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

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    Senate Confirms Retired Chief of Defence Staff as Defence Minister

    Senate Confirms Retired Chief of Defence Staff as Defence Minister

    Abubakar Badaru resigns as minister of defence

    Abubakar Badaru resigns as minister of defence

    Cadbury Nigeria Plc Announces Retirement of Managing Director and Appointment of Interim MD

    Cadbury Nigeria Plc Announces Retirement of Managing Director and Appointment of Interim MD

    Policeman kill driver over N100 bribe in Anambra

    President Tinubu Pulls Police from VIPs, Approves 30,000 New Officers

    FG Closes 41 Unity Schools Amid Bandit Attacks

    FG Closes 41 Unity Schools Amid Bandit Attacks

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

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

    Gunmen abduct unidentified man in Anambra state

    Gunmen Storm St. Mary’s Catholic School Niger State, Abduct Unknown Number of Pupils and Teachers

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

    Federal High Court sentences Nnamdi Kanu to Life imprisonment

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    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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    Trump warns of trade cuts with China over soybeans

    The New Tax Acts and Tax ID – What You Need to Know

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    CBN Tightens Agent Banking Operations, Introduces Transaction Limits

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    Lasaco Assurance Plc announces delay in share reconstruction

    Lasaco Assurance Plans Major Capital Raise — Shareholders to Decide on December 9

    Airtel Africa  Announces Total Voting Rights

    Airtel Africa Announces Total Voting Rights

    NNPC releases retail prices of Dangote petrol nationwide,  says it bought at $0.52/L

    NNPCL Posts ₦5.07tn Revenue, ₦447bn Profit Even as Production Hits 10-Month Low

    Ekiti State Government sales stake in Wema Bank Plc

    First HoldCo Completes 100% Sale of FBNQuest Merchant Bank to EverQuest

    Eterna Plc proposes Rights Issue at ₦22. 00 per share

    Eterna Plc proposes Rights Issue at ₦22. 00 per share

    Cadbury Nigeria Plc Announces Retirement of Managing Director and Appointment of Interim MD

    Cadbury Nigeria Plc Announces Retirement of Managing Director and Appointment of Interim MD

    Delisting of Access Bank Plc and listing of Access Holdings Plc

    Access Holdings Announces Extraordinary General Meeting to Approve ₦40bn Private Placement

    Presco Plc Clarifies Secure Land Rights for Ologbo Estate After False Revocation Report

    Presco Plc Clarifies Secure Land Rights for Ologbo Estate After False Revocation Report

    FY 2020: Fidelity Bank Plc reports decline in both gross earnings and profit

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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

    Silver and other Precious Metals Surges amid Economic concerns

    Silver and other Precious Metals Surges amid Economic concerns

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    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

    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

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TikTok CEO quits amid battle with Washington

Thursday, 27 August 2020, 2:11 pm
in News, World
0
TikTok owner to suffer $6 billion loss from India Apps ban
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As TikTok battle with Washington continues, its Chief Executive Officer Kevin Mayer, has quit just months after his appointment, amid a “sharply changed” political environment after Donald Trump accused the platform of threatening national security.

Mayer said the scope of his role as the head of the video-sharing platform was more than he could manage.

His decision to leave the company comes days after TikTok filed suit against the Trump administration over an executive order that prevents the video-sharing app from making business transactions in the United States.

The former Disney executive would be replaced in the interim by Vanessa Pappas, the general manager.

In a letter to staff, parts of which have been seen by Investogist, Mayer said he had decided to leave after Trump ordered TikTok’s parent company, ByteDance, to sell its US assets to a US company within 90 days

“In recent weeks, as the political environment has sharply changed, I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for,” the letter said.

“Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decided to leave the company.”

The Financial Times quoted an excerpt from the letter that said: “I understand that the role that I signed up for – including running TikTok globally – will look very different as a result of the US administration’s action to push for a sell off of the US business.”

Read also; Just in – Akinwumi Adesina re-elected AfDB President

TikTok said in a statement it thanked Mayer for his time and wished him well. “We appreciate that the political dynamics of the last few months have significantly changed what the scope of Kevin’s role would be going forward, and fully respect his decision,” it said.

ByteDance, which owns TikTok, said in a statement that it hopes to quickly resolve the business hurdles that it faces in the US according to The Guardian.

US tech companies including Microsoft, Twitter and Oracle, have expressed interest or announced talks with ByteDance to acquire some of TikTok’s operations outside China.

TikTok’s Chinese ownership has raised concern about the potential for sharing user data with Chinese officials as well as censorship of videos critical of the Chinese Communist Party government. TikTok says it does not censor videos and it would not give the Chinese government access to US user data.

In early August Trump threatened to ban TikTok on the basis of national security concerns.

Trump later issued a pair of executive orders banning US transactions  with the Chinese companies ByteDance that owns TikTok, and Tencent which owns WeChat, saying the US must take “aggressive action” in the interest of national security. TikTok is suing the US government over the executive orders

Written by;

Ifunanya Ikueze

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