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    Nigeria Imposes 10% Tax on Short-Term Investment Interest

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    NCR Nigeria returns to profit in FY 2025 as revenue jumps 43%

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    Geregu Power grows revenue by 35% to ₦184.9bn, posts ₦27.25bn profit for FY 2025

    Geregu Power grows revenue by 35% to ₦184.9bn, posts ₦27.25bn profit for FY 2025

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    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

    EFCC traces 41 properties worth N212bn to Former Attorney General, Abubakar Malami

    EFCC traces 41 properties worth N212bn to Former Attorney General, Abubakar Malami

    NMDPRA CEO Farouk Ahmed resigns amid corruption allegations

    NMDPRA CEO Farouk Ahmed resigns amid corruption allegations

    Nnamdi Kanu Lists Wike, Hope, Sanwo Olu and others as Witnesses in Terrorism Trial

    Nnamdi Kanu prison transfer request stalls as court insists on hearing from FG, NCoS

    FPEDL Schedules Brief Power Outage in Anambra for Transformer Upgrade on December 7

    FPEDL Schedules Brief Power Outage in Anambra for Transformer Upgrade on December 7

    Nnamdi Kanu moved from DSS custody to Sokoto prison – Aloy Ejimakor

    Federal High Court fixes December 8 to hear Nnamdi Kanu’s transfer request from Sokoto prison

    Senate Confirms Retired Chief of Defence Staff as Defence Minister

    Senate Confirms Retired Chief of Defence Staff as Defence Minister

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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

    Dangote refinery set to import Crude oil from Brazil

    Dangote Refinery Cuts Petrol Price to ₦699 per Litre

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    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

    Headline Inflation in Nigeria rose to 22.04% in March

    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%

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    NPF Microfinance Bank grows profit by 156% to N4.03 billion in FY 2025

    NPF Microfinance Bank grows profit by 156% to N4.03 billion in FY 2025

    NCR Nigeria returns to profit in FY 2025 as revenue jumps 43%

    NCR Nigeria returns to profit in FY 2025 as revenue jumps 43%

    Anambra to begin payment of new minimum wage.

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

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Geregu Power Board proposes N9 per share final dividend for FY 2025

    Linkage Assurance Plc Appoints Two New Non-Executive Directors

    Linkage Assurance Plc Appoints Two New Non-Executive Directors

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    NEM Insurance profit declines despite 54% growth in revenue in FY 2025

    Zichis Agro Firm Lists 600 million Shares On NGX, Rises 9.55%

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    Geregu Power grows revenue by 35% to ₦184.9bn, posts ₦27.25bn profit for FY 2025

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Nigeria Infrastructure Debt Fund Declares ₦4.68 Distribution for Q4 2025

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    Greif Nigeria Plc nears final stage of its voluntary liquidation process

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

    Again DMO offers N360 billion FGN bond for February

    FGN Opens Subscription for December 2025 Savings Bonds at 13.538% and 14.538%

    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

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    Silver and other Precious Metals Surges amid Economic concerns

    MTN Nigeria to pay over N200 billion final dividend for 2022

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    Nigerian Exchange Daily Market Report: ASI up by 0.15% on Wednesday

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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

    FG lists 4 border points in Ukraine Nigerians can cross to safety

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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

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

    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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