YOUR RENT IS RUNNING FAST BUT BUSINESS IS NOT RUNNING WELL OR AT ALL, WHAT SHOULD YOU DO AS A BUSINESS OWNER/ENTREPRENEUR?

Many of our clients who offer non-essential services according to government’s directives, for example, schools and crèches, bars and lounges, e.t.c have been expressing concerns over their rent that is running and business is on a complete halt or has terribly slowed down.

They know that in a matter of months or weeks, their landlords will come demanding for rent, which is his right. They are afraid of being sent packing in the middle of a pandemic and rightly so because, losing your ‘space’ at this time and trying to find a new one once the lock down is totally lifted can be destabilizing.

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DID YOU TAKE A LOAN PRE COVID-19 AS AN SME OR STARTUP? YOU SHOULD RENEGOTIATE YOUR LOAN TERMS NOW!

The Corona Virus Pandemic has resulted in disruptions to global supply chains, a sharp drop in global crude oil prices, turmoil in global stock and financial markets, massive cancellation of sport and entertainment events and intercontinental bans across critical air, land and sea routes around the world. In short, the pandemic has hit the world really hard. Lock downs have caused commercial activities to plummet resulting in free fall of revenues.

Now that the lock down is gradually being eased by different states and business operations slowly gearing up, parties to finance arrangements should closely review and analyze specific provisions of their financial documents, amongst other things.

THE CRIPPLING IMPACT COVID-19 WILL HAVE ON MOST CONTRACTS

It is now no news that Corona Virus, otherwise known as COVID-19 has been declared a public health emergency of international concern by the World Health Organization (WHO) as several nations across the world are suffering from this pandemic.

Now the issue this article seeks to address is, what effect or impact will COVID-19 have on existing obligations under contracts? The global impact of the outbreak continues to worsen and cause disruption to commercial activities and international trade, thereby increasing the risk of businesses being unable to perform their contractual obligations.

Does the Central Bank of Nigeria have the power to stop banks from laying off their staff?

On the 3rd day of May 2020, a press statement banning all banks from laying off staff (full time and part time) during this pandemic was released by the CBN. This press statement was an outcome of a meeting held between them and the Bankers’ Committee (this committee comprises of representatives from every bank in Nigeria. The Apex Bank in this press statement also stated that its approval must be sought if it becomes absolutely necessary to lay off or retrench staff.

Press Statement issued by the CBN on May 3rd, 2020

The question begging for answer is, “Does the CBN have such power?”

WILL THE WHISTLE BLOWERS PROTECTION BILL INDEED PROTECT YOU?

The Whistle Blowers Protection Bill recently passed by the Senate was passed to help ensure the safety of citizens who blow the whistle against public officers and public bodies that indulge in improper conducts.

Even though the chairman of Committee on Judiciary, Human Rights and Legal Matters enthusiastically stated that the bill would ensure adequate protection of whistle blowers from reprisals, victimisation, isolation and humiliation, which are some of the inherent consequences of whistle-blowing, it is most unfortunate that this bill does so little in data protection.

DIVORCE, JUDICIAL SEPARATION OR SEPARATION: WHAT YOU MUST KNOW.

Yes, I know that awareness about divorce has been heightened in the last ten years more than ever, majorly because of the increasing occurrence of domestic violence.

I will, notwithstanding tell you, using my experience in the legal practice of course, what you need to know about divorce, judicial separation and separation before you make your decision about your marriage.

BEFORE YOU TAKE THAT BANK LOAN…

 Bank loans are so easy to get nowadays. Bank loan marketers are as frequently seen on the street as coca cola hawkers. Many mobile applications have been developed basically to bring bank loans as close to you and easy to obtain as it can possibly get. In fact, most banks have up to 50% of their assets in loans.

Despite these shows put up by banks, I’d advise that you take a break before signing those papers. Consider critically that which you’re taking the loan for, whether it is one through which you can gain back the loan at least one and a half times over.

THE POLICE IS UNJUST – A FOLLOWER’S STORY

   One of the followers of Your Lawyer Friend shared this story with me and wants you to learn from it. Consider this a follow up to THE ACCUSED AND THE COMPLAINANT – POLICE’S MEAL TICKET.

Our friend is a DJ and he was contracted to perform at a party by Mr. O. DJ performed so well that to show how impressed he was with all the songs that were played at his party, Mr. O requested that DJ borrow him his laptop till the next day so that he could copy his play list.

Our friend, happy with himself, borrowed Mr. O his laptop but when he got back to Mr. O’s house the next day to retrieve his laptop, he was informed that his beloved tool for earning had been stolen overnight.

IS IT A BRIBE?

  Sometime last year I was at one of the Public health offices in Ibadan to move health officers (popularly known in the Southwest as ‘Wolewole’) to inspect a house we believe is likely to pose environmental and health hazard to neighboring house owners and occupants due to termite infestation.

On getting there, I (and the most troublesome partner anyone could ever have) informed them of our reason for coming and one of the officers – Mrs. B was so excited about it and enlightened us on several actions that could be taken against the owner and occupants of the house constituting such nuisance as we had reported. She went to town in citing statutory provisions and instances which reiterate their powers to abate nuisance.

But, this eye-opener and their willingness to act accordingly came at a price.

THE ACCUSED AND THE COMPLAINANT – POLICE’S MEAL TICKET

  When people feel cheated or where a crime is committed, they hurriedly report to the police, sometimes with the instruction that the suspect be charged to court, other times, without such instructions. Either way, they trust the police to do what is in their (complainant’s) best interest.

Every now and again, I defend accused persons in court and I get to meet the complainants, other times, I am in court to watch the brief of complainants. Now I know you may not know what it means to have a lawyer watch your brief as a complainant, but we’ll get to that shortly.