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    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    Access Bank’s Bidvest Bank Acquisition Lapses as Deadline Expires

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    NNPC acquires equipment to build 40 CNG filling stations

    President Tinubu Cancels $1.42 Billion, ₦5.57 Trillion NNPCL Debt

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    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

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    Universal Insurance Shareholders Approve Capital Raise of Up to ₦15 Billion at EGM

    Universal Insurance Shareholders Approve Capital Raise of Up to ₦15 Billion at EGM

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

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    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

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    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    Access Bank’s Bidvest Bank Acquisition Lapses as Deadline Expires

    Access Bank’s Bidvest Bank Acquisition Lapses as Deadline Expires

    MTN Group Advances Talks to Buy remaining  75% Stake in IHS Towers for $2.76B

    MTN Group Advances Talks to Buy remaining 75% Stake in IHS Towers for $2.76B

    NEIMETH lists additional 2.37 billion shares on NGX

    Neimeth Seeks NGX Approval for ₦4 per share Rights Issue as Shares Trade at ₦10.10

    FIRS, JTB begin ‘full scale enforcement’ on tax defaulters

    Individuals must file tax returns by March 31; employers, January 31 – Oyedele

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    Soludo Introduces Mandatory Attendance Registers in Anambra Markets Amid One-Week Onitsha Closure Over Sit-at-Home

    Anambra to begin payment of new minimum wage.

    Soludo Shuts Onitsha Market for a Week Over Adherence to Monday Sit-at-Home

    NNPC acquires equipment to build 40 CNG filling stations

    President Tinubu Cancels $1.42 Billion, ₦5.57 Trillion NNPCL Debt

    Terrorists attack presidential guards in Abuja after threat to abduct Buhari

    FG Confirms U.S.-Backed Airstrikes on Terrorists Targets in Sokoto State

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    • Africa
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    NNPC acquires equipment to build 40 CNG filling stations

    President Tinubu Cancels $1.42 Billion, ₦5.57 Trillion NNPCL Debt

    Dangote Refinery will supply first product to market by July – Dangote

    Why Made in Nigeria Cement Is Cheaper Abroad – Dangote

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    CBN Rolls Out New Cash Rules, Sets Fresh Withdrawal Limits for 2026

    Nigeria Wins €185.7m Arbitration on Ajaokuta Steel Contract

    Nigeria Wins €185.7m Arbitration on Ajaokuta Steel Contract

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    Nigeria’s inflation eases to 16.05% in October 2025

    President Buhari hikes Petrol Price to N212 per litre through the PPPRA

    Federal Government suspends 15% import tax on imported petrol

    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    • Policies
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    • Economic Data
  • Business
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    • Companies
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    Universal Insurance Shareholders Approve Capital Raise of Up to ₦15 Billion at EGM

    Universal Insurance Shareholders Approve Capital Raise of Up to ₦15 Billion at EGM

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    SUNU Assurances Directors Approve ₦9.34 Billion Rights Issue to Existing shareholders

    ​Tantalizers Plc reports N25.9 million loss in Q2 2025

    Tantalizers Plc Secures ₦2bn Equity Investment as Entertainment Bet Gains Momentum

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    MTN Group Advances Talks to Buy remaining 75% Stake in IHS Towers for $2.76B

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    Neimeth Seeks NGX Approval for ₦4 per share Rights Issue as Shares Trade at ₦10.10

    Aradel Holdings Plc Profit Surge in 2025 Amid  Acquisitions

    Aradel Holdings Plc Profit Surge in 2025 Amid Acquisitions

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    Lafarge Africa Expands Gombe and Sagamu Plants to 5.5MT Capacity

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    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

    Fortis Global Insurance Returns to NGX Trading Floor After 6-years Suspension

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank Lists Additional 5.3 Billion Ordinary Shares on NGX

    Greif Nigeria Plc nears final stage of its voluntary liquidation process

    Greif Nigeria Plc Completes Liquidation, Shareholders Receive Final ₦9 Per Share Payout

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    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

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    Wema Bank Plc rights issue opens for subscription

    Wema Bank Plc lists 4.5 billion new shares offered through private placement

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    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

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    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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President Trump issues ban on Chinese TikTok and Wechat

Friday, 7 August 2020, 10:58 am
in News, World
0
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The United States President, Donald J. Trump on Thursday issued executive orders, banning any U.S transactions  with the Chinese companies ByteDance that owns TikTok, and Tencent which owns WeChat. According to Trump,  “the spread of mobile applications developed and owned by Chinese companies in the United States, continues to  threaten the national security, foreign policy, and economy of the United States.”

The executive orders signed by the president on Thursday,  will come into effect in 45 days. However, Microsoft is in discussion to acquire TikTok operations in the U.S.

Under a Chinese law introduced in 2017, companies have an obligation to support and cooperate with the country’s national intelligence work.

TikTok has been under scrutiny in the U. S, the company is accused of transferring American users data to the Chinese government. U.S is the third largest market for TikTik after China and India. The app has been downloaded over 175 million times in the United States according to the White House.

The Department of Homeland Security, Transportation Security Administration, and the United States Armed Forces have already banned the use of TikTok on Federal Government phones. American companies and organizations have begun banning TikTok on their devices.

Read also; Conoil Plc suffers 67% drop in Profit after Tax in H1 2020

According to President Trump, “the United States must take aggressive action against the owners of TikTok to protect our national security.”

The executive orders prohibits “any transaction by any person, or with respect to any property, subject to the jurisdiction of the United States,” with the companies, beginning in 45 days.

WeChat, another app banned under the executive order, is used widely around the world for payments, chatting and as a key channel of communication between the US and China businesses, since most Western messaging apps are banned in China.

India had included TikTok and WeChat in the list of apps banned in the country. The government in Delhi said the apps were “prejudicial to sovereignty and integrity of India, defence of India, security of state and public order”

In July, UK banned Chinese tech giant Huawei from its 5G network.

On Wednesday, U.S Secretary of State Mike Pompeo expanded efforts on “Clean network” programme, preventing various Chinese apps including Chinese telecom companies from assessing sensitive information on U.S Citizens and businesses.

Written by;

Ifunanya Ikueze

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