Economy
Effect of Twitter Ban on Nigerian Economy and Mobile Data Usage
By Lead Web Praxis Media
Twitter is one of the largest messaging apps in the world. Others include Facebook, WhatsApp, LinkedIn etc.
The platform is well known for a place of acquiring knowledge, attaining information and enabling communication between people of different races and those of the same race.
The app was founded on March 21, 2006. However, due to the deletion of a tweet by the Nigerian government, the messaging app was banned to be used by her users in Nigeria on June 4, 2021.
This ban came as a shock to many people and it ignited international concerns. This is because the app has been known to be an avenue for voicing out your desire as a citizen.
In fact, prior to the ban, the account of the former President of the United State of America, Donald Trump, was deleted and nothing happened to the “bird app” in the United State of America.
This article tends to look at the consequences/effect of the Twitter ban on the Nigerian economy and mobile data usage.
Break in Communications System
The messaging app has been known to be a means of communication for different purposes including for corporation organizations. With the ban, there is a break in this communication and this greatly affects the productivity of businesses and people. Some major businesses in the country depend on the app to communicate effectively with their audiences.
In fact, the Nigerian government that banned the app usually used it as a means of communication to the masses, but with this ban, the communication channel is broken among other deleterious effects.
Even though the app can still be assessed with the Virtual Private Network (VPN), this is still not as effective as before. Moreover, some of the VPNs do not work and this greatly affects the overall efficiency of people and businesses. This subsequently has a negative effect on the economy of the country
Increase in Unemployment Rate
Even though the major purpose of the app is for communication between people, it has developed into a money-making machine for some people, most especially business owners. Most businesses depend on the app to communicate and advertise with their audience. Some have even built a high number of followers on the app.
However, with the ban, many businesses are cut off from their businesses and this greatly affects their revenue generation. This in turn affects the general outlook of the economy. In other words, the ban also adds more spices to the previous unemployment rate in the country.
Decrease in Traffic Generation for Business
Just like many other messaging apps, Twitter is also known as a traffic generation tool for businesses. This implies that businesses use it as a platform for generating leads whether organically or via paid advertisement. This greatly affects the revenue of the business as the first step in the revenue generation is lead generation. Subsequently, this has a negative effect on the economic condition of the country.
Researchers have shown that many businesses that rely solely on Twitter for their businesses are now trying to adapt to another platform. Hence, many of them now resolve to build their own email list as it is not dependent on any platform and gives them the liberty of having smooth communication with their audience at any point in time.
Negative Impact on International Relations and Trade
Most of the resources that are used in Nigeria are importers and the banning of the messaging app has a negative effect on how the international community perceives us and our trading relationship in general. In fact, many international figures stated their opinion when the declaration of the ban was made.
This in turn will affect the way the international community relates with us in all sectors including the trading sector. Subsequently, this negatively affects the economy of the country and affects the way of living of Nigerians.
Social media has formed an important part of the Nigerian lifestyle over the past years and with the ban, the effect is greatly felt. Apart from that, the economy of the country is also affected as many Nigerians depend on the app to generate revenue for themselves.
As the day goes by, the Nigerian government and her economy are known to lose huge billions of dollars every month. To curb the effect of Twitter ban, the government should reverse the ban as many citizens depend on the “bird app” to survive.
However, Nigerians should also start building their email list as it is the only way to boycott the negative effect of banning any social media platforms.
To know more about internet marketing and how you can make more money with your business, visit Lead Web Praxis Media Limited or reach out via [email protected]
**Revokes Trading Licences of LMB, Platinum Stockbrokers
By Aduragbemi Omiyale
A stockbroking company, Premium Capital and Stockbrokers Limited, has been fined N5 million for engaging in “unauthorised sale of its clients’ securities.”
A circular issued by the Nigerian Exchange (NGX) Regulation Limited disclosed that the trading licence of the organisation has also been revoked.
In the notice signed by the Head of Market Regulation for NGX RegCo, Chinedu Akamaka, Premium Capital violated Rule 11.9 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules), which focuses on the Prohibition of Unauthorised Sale of Securities.
Business Post reports that Premium Capital was not the only stockbroker that had its trading licence withdrawn, as it also affected others.
The licence of LMB Stockbrokers Limited was revoked by NGX RegCo for prolonged inactivity, which falls contrary to Rule 6.4: Revocation of Inactive Dealing Members’ Licences, Rulebook of The Exchange, 2015 (Dealing Members’ Rules), as amended.
The same also affected Platinum Stockbrokers Limited, which has not witnessed activity on the floor of the NGX Limited for a while.
Similarly, the authorised dealing clerkship of Mr Bernard Oluwole Ilori, was taken back with immediate effect in alignment with an earlier determination by the Securities and Exchange Commission’s (SEC) Administrative Proceedings Committee (APC), which arose from his involvement in regulatory infractions connected to Mutual Alliance Investment and Securities Limited and resulted in his 10-year ban from the Nigerian capital market since March 25, 2021.
Investors have been “strongly advised not to engage in any activity with the firms” whose trading licenses have been revoked.
By Aduragbemi Omiyale
The securities of DN Tyre and Rubber Plc, and Greif Nigeria Plc have been delisted by the regulatory arm of the Nigerian Exchange (NGX) Group Plc, NGX Regulation Limited.
A statement signed by the Head of the Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, said the delisting became effective on Thursday, April 9, 2026.
In the notice issued yesterday, it was further disclosed that the action complied with the provisions of Clause 14 of the Amended Form of General Undertaking, for Listing on Nigerian Exchange Limited General Undertaking.
According to this clause, “The exchange reserves the right to, at its sole and absolute discretion, suspend trading in any listed securities of the Issuer, delist such securities, or remove the name of the issuer (listed company) from the daily official list of the exchange with or without prior notice to the issuer, upon failure of the issuer to comply with any one or more of the provisions of this General Undertaking, or when in its sole discretion, the exchange determines that such suspension of trading or delisting is in the public interest, or otherwise warranted.”
It was explained that the shares of the two firms were delisted because they fell below the listing standards.
“The securities of DN Tyre and Rubber Plc and Greif Nigeria have been delisted from the facilities of Nigerian Exchange Limited (NGX) effective Thursday, April 9, 2026, on the grounds that the companies are operating below the listing standards of NGX and their securities are no longer considered suitable for continued listing and trading in the market,” the disclosure noted.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange declined by 0.95 per cent on Thursday, April 9, plunging the Unlisted Security Index (NSI) by 37.41 points to 3,893.50 points from 3,930.91 points.
In the same vein, the market capitalisation lost N22.38 billion during the session to N2.329 trillion from the N2.351 trillion it ended at midweek.
The OTC securities exchange was under selling pressure yesterday, resulting in a negative market breadth index after three securities lost weight and one gained weight.
Central Securities Clearing System (CSCS) Plc led the losers’ table after it shed N3.74 to sell at N64.21 per unit versus N67.95 per unit. Food Concepts Plc went down by 19 Kobo to N2.68 per share from N2.87 per share, and Free Range Farms Plc dropped 10 Kobo to settle at 90 Kobo per unit versus N1.00 per unit.
On the flip side, MRS Oil gained N5 to close at N165.00 per share compared with the preceding day’s N160.00 per share.
At the trading session, there was a 23.5 per cent jump in the value of securities to N40.4 million from N32.7 million, but the volume of securities fell by 81.9 per cent to 1.04 million units from 5.7 million units, and the number of deals went down by 29.7 per cent to 26 deals from the preceding session’s 37 deals.
At the close of transactions, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 57.5 million units exchanged for N3.9 billion, and Okitipupa Plc with 27.5 million units traded for N1.8 billion.
Also, GNI Plc ended the trading day as the most traded stock by volume on a year-to-date basis with the sale of 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units worth N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
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