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Banks, Hotels, Others Back As Government Reopens Businesses

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Businesses got on Monday a new lease of life as government commenced phase two of the ease of lockdown by gradually reopening the economy.

Banks were given immediate clearance to operate fully. Hotels got the nod to reopen “but must observe all mandatory non-pharmaceutical intervention”.

The Presidential Task Force (PTF) on COVID-19 Control unveiled the new guidelines on Monday at the end of the first phase of lockdown easing ordered by President Muhammadu Buhari on May 4.

National Coordinator of the PTF, Dr. Aliyu Sani, who announced the reopening of the financial sector, said the restricted opening of worship centers will be granted by states subject to the PTF guidelines.

The Aviation Industry is also to be reopened this month.

Airlines and other stakeholders in the industry have been given till June 21 to work out all necessary plans and preparations for the resumption of domestic flights.

Dr. Sani said: “The goal of phase two over the next four weeks is to balance public safety with protecting livelihoods as well as allowing the full restoration of economic activities across the country.

“We are not opening places of worships across the board. We are saying that opening is conditional and it is based on these clear-cut guidelines and would only cover regular church and mosque services.

“Effective from tomorrow (today) Tuesday the 2nd of June, 2020, the easing of the lockdown will be characterized by the following:

“The nationwide curfew will remain in place but the timing of this will be reduced to 10 pm to 4 am. The purpose of the curfew is to limit social interactions and therefore reduce the risk of transmission of the virus.

“Persons that are on essential duty, including but not limited to those involved in the provision of health care services, media services, and critical infrastructure are exempted from the curfew.

“All interstate travels by individuals remain prohibited except for essential travels and the movement of goods and services. All restrictions on the free movement of goods and services are now removed in this phase.

“There will be a full opening of the financial sector with banks now allowed to operate normal working hours-five days a week.

“The mass gathering of more than 20 people outside of the workplace or places of worship remains prohibited.

“There will be controlled access to markets and locations of economic activities. But local authorities will continue to provide guidance on opening times.

“Restricted opening of places of worship will be based on state government protocols and restrict guidelines of physical distancing and other non-pharmaceutical interventions. This will apply to regular church and mosques services only.

“In terms of general movement, persons may go out for work, go to buy necessary food, and for exercise provided that they abide by the curfew hours.

“Movement between local government areas is strongly discouraged unless for critical reasons such as healthcare and work.

“I will like to emphasize that it is still safer to stay at home and avoid crowds. The pandemic is not over in this country and the relaxation of some of the rules doesn’t mean that it is safer to go out. If you do not need to go out please continue to stay at home.

“Hawking and trading are also prohibited and we will be looking into this in later details with state authorities.

“The aviation industry requested to start developing protocols to allow for domestic flights to resume anytime from June 21 onwards. Airlines must ensure physical distancing by reducing passenger capacity, ensure the provision of hand sanitizers, and appropriate personal protective equipment as well as carrying out temperature checks at points of entry and departure and ensuring that airports are not congested by either non-travelers or by airport staff.

“With interstate travels, movement across state borders remains restricted other than the free movement of goods and essential travels. Security services are requested to please cooperate with members of the public and ensure that goods are provided with the free passage as this particular phase is directed at ensuring the economy starts moving again.

“With intra-state travel, we will implement new travel processes for areas of the country with high burden local government areas and this will be restricted to essential travel but for the moment with intrastate travel, all the prior guidelines will remain, including reduced occupancy for buses and taxis, the need for a temperature check and where available, the provision of handwashing facilities and the maintenance of physical distancing.

“For the industry and labor sector in terms of working hours, normal working hours will apply to offices other than government offices provided this is kept within the curfew hours of 10 pm to 4 am.

“Offices are to maintain working at 75 percent capacity while maintaining the two-meter physical distancing.

“For government offices, they can open between the hours of 9 am to 2 pm. So, no change in opening hours but can work from Mondays to Fridays. Prior to this, we allowed a three-day working week. However, only persons that are within the grade level of 14 and above at both the federal and state government levels will be allowed to come into work. We will encourage staff to continue to work at home if possible, including the business and private sector, making the best use of technology that is now available.

“Hotels may reopen but must observe all mandatory non- pharmaceutical interventions.

“Restaurants, other than those in hotels must remain closed to eat -ins but are allowed to prioritize and continue practicing the takeaway system.

“The Federal Ministry of Education has been instructed to work with school owners to prepare students that require exiting exams to allow them to take exams early in the next phase of the lifting of the lockdown.

“State governments and security agencies are enjoined to ensure effective and strict enforcement of these guidelines while respecting the exemptions that have been approved by Mr. President.”

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JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

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The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

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Detained Binance Executive Gambaryan Drags EFCC, NSA To Court

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Tigran Gambaryan, the CEO of Binance who is currently in detention, has claimed that he has been violated in his fundamental human rights by the Economic Financial Crimes Commission and Nuhu Ribadu, the National Security Adviser.

Gambaryan, in an originating motion marked: FHC/ABJ/CS/356/24 sought a declaration that his detention and seizure of his international travel passport, contravened Section 35 (1) and (4) of 1999 Constitution.

He urged the court to order the NSA and the EFCC to release him from their custody and return his international travel passport with immediate effect.

Gambaryan also sought an order of perpetual injunction restraining the respondents and their agents from further detaining him in relation to any investigation into or demands from Binance.

He also urged the court to order the respondents to issue a public apology to him.

Gambaryan averred that he was in Nigeria alongside fleeing Nadeem Anjarwalla to honour the invitation of the ONSA and EFCC to discuss issues relating to Binance in Nigeria.

Anjarwalla escaped from the guest house where he and Gambaryan were being held

He argued that he had not committed any offence during the meeting, and neither was he informed in writing of any offence he personally committed in Nigeria at any other time.

“The only reason for his detention is because the government is requesting information from Binance and making demands on the company,” he added.

The fleeing Anjarwalla also filed a similar suit, marked: FHC/ABJ/CS/355/24.

At the proceedings on Thursday, T.J. Krukrubo (SAN) appeared for the plaintiffs, while the respondents had no representation.

Krukrubo informed the court that the respondents were served two days ago.

Shortly after that, he announced to the court that he was withdrawing from the matter as counsel for the fleeing Anjarwalla.

He did not give reasons for his withdrawal.

The trial judge, Justice Inyang Ekwo, adjourned the matter till April 8.

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Federal Government To Arraign Binance Executives Over ‘Tax Evasion’ On April 4

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On April 4, the federal authorities will file charges against senior executives of the cryptocurrency company Binance, Tigran Gambaryan, and Nadeem Anjarwalla, for allegedly engaging in “tax evasion.”

Anjarwalla is Binance’s regional manager for Africa, while Gambaryan oversees the company’s compliance with financial crimes.

The Federal Inland Revenue Service (FIRS) charged Binance with a crime on March 25th for “tax evasion.”

The service claims that the action is intended to maintain national economic integrity and fiscal discipline.

The lawsuit, designated as suit number FHC/ABJ/CR/115/2024, is said to “implicate Binance with a four-count tax evasion accusation”.

However, on Thursday, NAN reported the federal government will charge the three defendants before Emeka Nwite, the presiding judge, at the federal high court (FHC) in Abuja on a four-count charge.

Despite not being a vacation judge, according to the report, the chief judge granted the fiat for the judge to oversee the case during vacation because it is a matter of critical national interest.

The lawsuit comes a month after Anjarwalla and Gambaryan were detained by the Nigerian authorities.

Anjarwalla and Gambaryan had flown into Nigeria but had their passports seized by ONSA.

On March 12, Anjarwalla was transferred to a local hospital after he fell ill while in detention in Nigeria.

However, on March 25, Anjarwalla escaped from custody and fled Nigeria with a smuggled passport.

Meanwhile, Gambaryan, on March 28, sued Nuhu Ribadu, the national security adviser (NSA) and the Economic Financial Crimes Commission (EFCC), alleging violation of his fundamental rights.

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