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    UK Court awards £20m Damages in favour of Nigeria against P&ID

    FG, States, LGs share ₦2.00 Trillion for month of July 2025

    SEC warns against investing with GVEST Global’s illegal schemes

    SEC warns against investing with GVEST Global’s illegal schemes

    Only 23% of Nigerians trust INEC- Report says

    APGA candidates win Anambra by-elections

    US deficit grows to US$291 billion in July – Reports

    US deficit grows to US$291 billion in July – Reports

    Onitsha River Port receives first container barge for 2025 season

    Onitsha River Port receives first container barge for 2025 season

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    WAEC releases 2025 WASSCE results, how to check yours

    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

    Festus Keyamo – Our Plans for the Murtala Mohammed International Airport Lagos

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    • Companies
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    Shareholder’s resolutions at Guaranty Trust Bank’s Annual General Meeting

    GTBank gets ₦365.85 billion capital injection, meets new minimum capital requirement

    NNPC and Partners to build first methanol plant in Nigeria

    NNPCL is under Attack – Bayo Ojulari, Group CEO

    Access Bank Plc to be delisted from the NGX, and be replaced by Access Holdings Plc

    Access Holdings Plc appoints Mr. Innocent Ike as Group MD/CEO

    Nigeria: Status of China loans and the satellite lost in space due to power failure

    International Energy Insurance Plc announces full and final repayment of JPY1.85 billion Coupon Bonds due 2028

    AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

    International Breweries appoints Temitope Oluwatosin as Company Secretary

    Outcome of Cadbury Nigeria Plc and Berger Paints Nigeria Plc Board meetings

    International Energy Insurance Plc calls an emergency Board meeting

    Wema Bank Plc surpasses recapitalisation target

    Wema Bank Plc surpasses recapitalisation target

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

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    Beta Glass Plc Shareholders to be presented with a N1.04 dividend for 2020

    STANBIC IBTC ETF 30 announces ₦3.144 interim Dividend

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    SIAML Pension ETF 40 announces ₦12.44 interim Dividend

    Cutix Plc founder sells additional 1.8 million shares of the company

    VFD Group Plc Employees and others sell millions of VFD Group shares

    Nigerian Exchange – Stock Market report for the week ended 7th July, 2023

    The Nigerian Exchange records impressive performance in H1 2025

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

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    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

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

    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?

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

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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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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