Banks in 3 locked states to operate 8am to 2pm from 4th May – FG


Share post:

The National Coordinator of the Presidential Task Force on Covid-19, Dr. Sani Aliyu, said, yesterday, banks in Lagos, Ogun and the Federal Capital Territory will resume operation from Monday May 4th, 2020. He however mentioned that operations will run from 8am to 2pm everyday.

The resumption marks the beginning of the gradual easing of complete lockdown placed on the 3 states to curtail the spread of the novel coronavirus.

Although the nation is yet to totally check the growing spread of the virus, or ‘flatten the curve’, the restriction placed on economic activities is taking its toll. Lagos alone loses N106 billion daily due to lack of economic activities, according to a report by Vanguard Newspaper; while the Federal Government has reduced its N10.33 trillion budget by 40% to cope with ongoing economic slump.

Declaring the lifting of the lockdown in the 3 states, Dr. Aliyu announced, “Moving on from Monday, banks will open and they will operate normal services from 8am to 2pm.”

“That is six hours but there will be the usual restrictions”, he explained.

The global economy is facing severe contraction due to ongoing economic hiatus. Government and businesses are losing revenues daily. According to the International Labour Organisation (ILO) around 10.5% of the entire global jobs, estimated at roughly 305 million jobs, will be lost due to the pandemic.

Consequently, countries are working out modalities to curtail the pandemic while allowing citizens to resume work. Spain, Italy, Germany, India, South Africa and select states in the US, like Nigeria have started easing the lockdown to curb the severe economic contraction.

Meanwhile researchers in Oxford said vaccines that will protect citizens from contracting the virus are being trialed in the UK. If successful the vaccines will be ready for mass production by September.

Toyin Afilaka
Toyin Afilaka
Toyin Afilaka writes with simplicity and insight. He aims to enrich the Nigerian small business landscape. Through Hustle24 he connects entrepreneurs with information about new policies, enterprise solutions and opportunities that will aid their 'hustle'. He has written extensively for CobraReview, a product review portal, and served as a lead project manager for MarketingMix where he consulted as PR consultant for MTN Project Fame and Business Next Titan etc.


Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Related articles

HBR: Four (4) Approach to Diversifying Your Business – Graham Kenny

Summary: Although conventional wisdom suggests that companies should look for growth opportunities close to their core businesses and...

HBR: How to Become a Super Communicator at Work

by Charles Duhigg Summary.    We’re not born knowing how to communicate effectively. Rather, great communication is a skill that nearly anyone...

Opportunities: Orangle Corner Nigeria dangles 40,000 Euros funding before young entrepreneurs

Applications are now open for the 10th cohort of the Orange Corners Nigeria Incubation Programme. The Orange Corners...

Demography key factor in Nigeria’s real estate sector’s evolution – Bartholomew Egbochie

Despite the challenges in the operating environment, experts are projecting growth in the real estate sector. Mr Bartholomew...