THE IMPACTS OF CORONAVIRUS DISEASE (COVID-19) ON PRE-EXISTING CONTRACTS IN NIGERIA

Abstract

The new Coronavirus disease has taken the entire world by storm, spreading like a wildfire. Consequently, various business plans and global events were cancelled, contracts were aborted and up until the moment performance of contractual obligations are being frustrated or hindered. This paper seeks to examine the measures taken by the Nigerian government in order to combat the virus. It further examines the effects of the Corona Virus pandemic on pre-existing Contracts such as contract of loans, mortgages and tax liabilities.