Opinion
CBN: Navigating the process for monetary stability

By Ibrahim Modibbo
The 2025 Monetary Policy Forum, declared open by the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, reinforces the apex bank’s steadfast commitment to price stability and macro-economic reforms.
The theme: “Managing the disinflation process,” resonates with the nation’s current economic realities, where inflationary pressures persist amid global and domestic shocks. The governor’s remarks reflect a balanced mix of optimism, pragmatism, and a forward looking approach to monetary policy.
His speech emphasizes the CBN’s strategic measures in taming inflation, restoring foreign exchange stability, and implementing financial sector reforms that position Nigeria for sustainable economic growth. Cardoso framed the forum as an essential intellectual platform for examining monetary policy challenges with precision. Unlike broader economic conferences, this event fosters evidence based discussions that shape policy direction. In emphasizing the need for clear communication, he acknowledges the critical role of transparency and stakeholder engagement in building confidence in monetary policy decisions.
This emphasis on dialogue is significant, particularly as monetary policy remains a powerful yet complex tool requiring careful calibration. A major take-away from the governor’s speech is his review of the economic landscape over the past year.
Nigeria has faced persistent inflationary pressures, driven by both structural challenges and monetary dynamics. As of December 2024, headline inflation stood at 34.80 percent, with core inflation remaining a major concern despite some moderation in food inflation.
The governor rightly points to domestic structural bottlenecks, exchange rate pass through effects, and energy price adjustments as factors exacerbating inflationary trends.
While acknowledging these supply-side constraints, he also recognizes the role of past liquidity injections in fueling demand driven inflation.
This candid assessment is crucial in understanding Nigeria’s inflationary progression, as it highlights the multifaceted nature of the challenge.
The governor’s remarks on liquidity injections and their unintended consequences reflect an awareness of policy trade-offs. He notes that unorthodox monetary interventions, particularly in response to theCOVID-19 pandemic, led to an excess liquidity overhang that did not translate into productivity growth.
The resulting inflationary pressures and exchange rate volatility necessitated a shift towards a more disciplined and coordinated monetary policy approach. This shift is evident in the Monetary Policy Committee’s (MPC) tightening cycle, which saw the Monetary Policy Rate (MPR) rise by a cumulative 875 basis points to 27.50 percent in 2024. Similarly, the Cash Reserve Ratio (CRR) for Other Depository Corporations (ODCs) was raised by 1,750 basis points to 50.00 percent, a bold move aimed at mopping up excess liquidity.
These decisive interventions, the governor argues, were necessary to prevent inflation from spiraling further. Counter- factual estimates suggest that without such measures, inflation could have surged to 42.81percent by the end of 2024.
This assertion stresses the importance of proactive policy responses in mitigating economic distortions.
The commitment to tightening reflects the CBN’s resolve to anchor inflation expectations while ensuring that monetary policy remains an effective tool for macro-economic stability. Beyond inflation control, the CBN has implemented critical financial sector reforms to strengthen Nigeria’s economic resilience.
The unification of multiple exchange rate windows has improved efficiency in the foreign exchange market, leading to a notable increase in remittances through International Money Transfer Operators (IMTOs).
The governor cites a79.4 percent rise in remittances to $4.18billion in the first three quarters of 2024, compared to $2.33billion in the same period of 2023.
This reform, alongside the clearance of a $7.0 billion backlog of FX commitments, has bolstered market confidence and enhanced liquidity with a rising external reserves of $40billion as of December, 2024. Another significant policy shift is the lifting of restrictions on 41items previously banned from accessing the official FX market. The reversal of this 2015 policy signals a more market-driven approach aimed at improving supply side dynamics.
Additionally, the introduction of new minimum capital requirements for banks, effective by March 2026, is a forward thinking measure designed to strengthen the financial system’s resilience. By ensuring that banks are adequately capitalized, this policy aligns with Nigeria’s ambition of becoming a $1trillion economy, reinforcing the stability and global competitiveness of the banking sector.
The governor also showcases the launch of the Women’s Financial Inclusion Initiative (WIFI) under the National Financial Inclusion Strategy.
This initiative addresses gender disparities in financial access, empowering women through digital tools, education, and financial services. Inclusive finance remains a key pillar of sustainable economic development, and the CBN’s focus on bridging financial gaps reflects a broader commitment to equitable growth.
In a further effort to instill transparency and efficiency in the FX market, the CBN recently introduced the Nigeria Foreign Exchange Code.
This framework, built on six core principles, aims to enhance integrity, fairness, and trust within the financial ecosystem. Such measures are essential in attracting foreign investment and maintaining confidence in Nigeria’s economic reforms.
Cardoso’s speech also contextualizes Nigeria’s disinflation efforts within the global monetary landscape.
He acknowledges emerging optimism regarding potential improvements in capital flows to emerging markets, particularly as advanced economies transition toward monetary easing. However, he cautions that Nigeria’s ability to attract these inflows hinges on investor confidence in domestic reforms.
The need to deliver positive real returns on investment accentuates the importance of maintaining macro-economic stability and ensuring that inflationary trends do not erode gains.
Looking ahead, the governor stresses that the shift from unorthodox to orthodox monetary policy is crucial for restoring confidence and strengthening policy credibility. Encouragingly, early signs of progress are evident.
FX liquidity is improving, and the naira is gradually aligning with market fundamentals, creating a more predictable environment for economic activities. While acknowledging that challenges remain, Cardoso expresses confidence that Nigeria’s policies are setting the stage for sustainable economic stability.
The call for collaboration is another vital point in his remarks.
Managing disinflation requires coordinated efforts between monetary and fiscal authorities, alongside active engagement with the private sector and civil society. This alignment is necessary to anchor inflation expectations, maintain investor confidence, and ensure that economic policies translate into tangible benefits for Nigerians.
The governor reiterated the importance of a forward looking, adaptive, and resilient monetary policy framework. By prioritizing price stability, financial sector resilience, and macro-economic reforms, the CBN is laying the foundation for sustainable economic growth.
The 2025 Monetary Policy Forum thus serves as a fundamental platform for generating actionable insights that will shape Nigeria’s economic direction.
Essentially, Cardoso’s speech reflects a well calibrated approach to managing inflationary pressures while fostering economic resilience. His emphasis on disciplined monetary policy, financial sector reforms, and investor confidence corresponds with Nigeria’s broader economic aspirations. As the country navigates the complexities of disinflation, the CBN’s commitment to transparency, coordination, and policy credibility will be instrumental in achieving long-term stability.
Dr. Modibbo, a development communication scholar writes from Abuja
Opinion
*MOURNING JEMITOLA, REMEMBERING GIWA-AMU*

*By Tunde Olusunle*
It was a relay of calls competing for access to me Thursday February 6, 2025. Messages tagged “Breaking News” were equally discernible as they streamed onto my WhatsApp page. I would subsequently get to know that Christopher Adewole Jemitola, erstwhile aide-de-camp, (ADC) to former President Olusegun Obasanjo, had sadly and unexpectedly passed, just minutes ago. Those who know that I served as an aide to Obasanjo during his two terms in office, from 1999 to 2007, knew I would have known Jemitola. Our offices were in the very same one-storey building housing the seat and office of the President. The ADC and senior non-uniformed security aides to the Commander-in-Chief were on the ground floor. Those of us who manned the “Secretariat of the President,” the very next door to the nation’s helmsman, were upstairs. We often began our days together from the President’s residence, chaperoning him with his other aides, through the walkway linking his home and office, and vice versa. We were components of what is described as the “main body” of the President’s aides. We attended official events with him and flew on the presidential jet with him as well.
Jemitola was preceded on the job by Solomon Uangbaoje Giwa-Amu, who was Obasanjo’s ADC from 1999 to 2003. Giwa-Amu pulled me aside on the sidelines of the 2002 edition of the United Nations General Assembly, (UNGA), in New York. The bespectacled Giwa-Amu, famous for the red beret of the “military police,” the corps to which he belonged in the army was then a full Colonel. He recounted it had been worthwhile working with Obasanjo, meeting a broad spectrum of people and gaining invaluable experience the barracks would never have availed him. He said the President wants to continue with him into his second term because of the “father-son” relationship they had developed. Giwa-Amu, however, said he was personally minded about his mainstream career as a soldier. He said he desired to speedily return for reintegration into the military system, to mitigate envy and misgivings by his colleagues.
I functioned as master of ceremony for quite a number of state events, including dinners and receptions the President hosted for his visiting foreign colleagues. Obasanjo added that to my schedule beginning from a reception he hosted in honour of the former Gambian President, Yahya Jammeh. Renowned for his thriftiness, Obasanjo believed that professional comperes charged too much for their services. He believed many of them were not as articulate as I am, and more importantly, he wouldn’t have to pay for my services. Giwa-Amu loved my cadenced delivery and measured wit. He looked out frantically for me the day he was decorated Colonel in the chambers of the Federal Executive Council, (FEC). I was, unfortunately, otherwise engaged, especially because I had workstations both in the State House and the Federal Secretariat.
Tall, fair-complexioned, unobtrusive, Christopher Jemitola was a permanent fixture behind Obasanjo during his second term as President. He was professional, courteous and humble, the archetypal “officer and gentleman.” Whenever our paths crossed, communicated majorly in Yoruba which he spoke flawlessly. This was despite the fact that he wasn’t from a core Yoruba-speaking state. Not knowing who was older between both of us, he related with me with the kind of deference which presupposed I was the older party. I went to his residence abutting the President’s one morning and told his batman to inform him I wanted to see him. The batman returned to inform me that Jemitola said everyone desirous of a meeting with him should come over to his office. I stood my ground and gave my call card to the soldier to give to his boss. Jemitola emerged from the bathroom and was still mopping his body with his towel, apologised and listened to me. The information was beneficial to him and he was most thankful.
Those of us who served in the Obasanjo government went our separate ways after May 29, 2007. Jemitola returned to the Nigerian Army and was deployed to the Nigerian Embassy in Brazil as Defence Adviser. Giwa-Amu before him had served in a similar capacity at the Nigerian Embassy in Washington DC, between 2003 and 2007. Within that period, Giwa-Amu attended the US War College. Upon Jemitola’s return from Brazil, he was deployed to the position of Director of Defence Information, (DDI), at the Defence Headquarters, (DHQ). We thereafter saw each other fairly frequently on Sundays because we worshipped at the same parish of the Redeemed Christian Church of God, (RCCG) in Abuja. He was always his usual self, with zero affectations, no fawning aides holding his Bible for him, generous with his handshake, just himself.
Jemitola was promoted to the rank of Major General in 2014. Following the appointment of Tukur Buratai as Chief of Army Staff by the immediate past President, Muhammadu Buhari, in 2015, Jemitola was deployed as Commander, Corps of Signals, Headquarters, Lagos. Not too long after, he was reassigned as the Chief of Policy and Plans, (COPP), of the Nigerian Army. Such was the career mobility of Jemitola during his years in active military service. Following his retirement from service a few years ago, Jemitola made forays into post-regimental life, serving as Senior Advisor for Military Communications at Pinnacle Communications Ltd, in 2019. The outfit, a digital switchover licensee is headquartered in Asokoro, Abuja. The Independent Corrupt Practices and Related Offences Commission, (ICPC), invaded the offices of the organisation January 22, 2020, weeks before the Chairman of the company, Lucky Omoluwa passed, February 18, 2020.
Major General Christopher Jemitola and his predecessor, Brigadier General Solomon Giwa-Amu, coincidentally, both hailed from Edo North in Edo State. That Obasanjo happily worked with both of them without parochial consideration of their origins reinforced the pan-Nigerian globality of the former President who eternally placed substance and quality, above primordial concerns like ethnicity and creed. Jemitola was from Ososo in Edo State, while Giwa-Amu was from Sabongida-Ora. As though the ability to play the game of squash was a prerequisite for being ADC to Obasanjo, both gentlemen played the game well. Indeed, they typically began their days, sparring with Obasanjo in the squash court annexed to the presidential residence. By tragic coincidence, Jemitola and Giwa-Amu both died in the month of February. Giwa-Amu died on Monday February 18, 2008, in an automobile accident between Abuja and Kaduna, following a tire burst to the vehicle in which he was riding.
He was to deliver a lecture at the Armed Forces Command and Staff College, (AFCSC), in Jaji, Kaduna State and reportedly opted to ride in the Toyota Coaster bus conveying other officers and men to the lecture, while his staff car, drove behind. Of all the 18 occupants of the said bus, Giwa-Amu was the singular casualty. Gabriel Giwa-Amu, an attorney and brother to Solomon Giwa-Amu, sustained inquisition into this riddle for several years. Yes, there was a deep cut in Solomon Giwa-Amu’s head, according to family members, but there was no physical wound of any kind on his body.
There were suspicions that Giwa-Amu’s ever rising profile, troubled not a few interests in the army. Recall his fears about possible peer jealousies to which I earlier alluded. He was just 49 when he passed. He would have been 66 this year and would have been long retired from active service. I attended his final rites of passage and interment in his private residence, in Sabongida-Ora. He had four children with his beloved wife, Judith. Jemitola turned 63 on Christmas day last December 25. Like many retirees, golfing appealed to him. He could play the game anytime of the day, keep fit and stay in the company of friends. He slumped and passed at the IBB Golf Club, Abuja the morning of Thursday February 6, 2025, after playing the game. He had two children, Caleb and Iman, with Josephine, his erstwhile wife.
So sad Nigeria has lost the sheer quality, the multidimensional reservoir of institutional memory embedded in the persons of Major General Christopher Adewole Jemitola and Brigadier General Solomon Uangaboje Giwa-Amu. Their wisdoms would, without doubt, have served Nigeria positively, especially in the security and military ecosystem to which they devoted decades of their shortlived lives. People like them should be resource persons in the many academies, centres, colleges and institutes of the Nigerian military. They should today be Emeritus instructors in: Civilian/military relations; Sustenance of military professionalism in a democratic dispensation; Ensuring inter-service collaboration between sister security departments in a democracy, and so on. We pray God to grant sweet repose to their souls, even as we entrust their families to the eternal care of God the Almighty.
*Tunde Olusunle, PhD, Fellow of the Association of Nigerian Authors, (FANA), is an Adjunct Professor in the Centre for Creative Writing, University of Abuja*
Opinion
Inadequate power supplies for telecom services and others

By Sonny Aragba-Akpore.
By Wednesday December 11,2024 the National electricity grid had recorded 12 collapses within the year thus accounting for an average of one per month.
Apart from millions of customers whose homes and offices were cut off electricity supplies, many corporate organizations including telecommunications network providers, manufacturers among others had to cope with the situation making do with their more reliable alternatives which had become more regular than the national grid.
With a paltry 5,000 megawatts of electricity supply by the generating companies (gencos), for the nearly 250 million population, millions of people including corporate bodies have resigned to fate.
Resort to alternative sources of power supplies including renewable energy, solar and heavy duty generators have become a way of life.
Only recently, government officials announced that a tariff hike of upto 65% was underway,a situation the Manufacturing Association of Nigeria (MAN) frowns at saying this will further compound costs of doing business in general.
Director-General of MAN, Mr Segun Ajayi-Kadir, expressed serious concern in a statement issued in Lagos saying the frequent increases do not meet quality of service.
Ajayi-Kadir stressed that electricity is a crucial input in manufacturing, significantly affecting production costs and product prices.
He emphasised that no nation could achieve substantial industrial development without ensuring energy security.
According to him, any increase in tariff will harm the competitiveness of Nigerian products and businesses.
He warned that the such would worsen production costs, intensify inflationary pressure, and further reduce consumers’ disposable income.
Ajayi-Kadir added that it would increase manufacturers’ unsold inventory, erode profit margins, raise unemployment, and force more private businesses to shut down.
“It was due to the critical role of energy security in Nigeria’s industrial aspirations that the power sector was privatised in 2013. Unfortunately, this privatisation has not delivered the expected results.
But for telecommunications operators,it’s a tale of woes as power supplies account for about 40% of the operating expenditure (OPEX) as critical as equipment because even if equipment is available and no electricity supply to power them,quality of service suffers especially when there is down time.
Nigeria’s unstable electricity grid significantly contributes to telcos’ need for backup diesel generators, further increasing their energy expenses.
Recent reports indicate that Nigerian telecommunication companies (telcos) spend a significant amount on electricity, with estimates suggesting their monthly energy bill can reach up to N56 billion primarily due to reliance on diesel generators to power their network towers, as they often face unreliable grid access; many telcos are now actively exploring renewable energy options to reduce costs.
A major portion of telco electricity expenses is attributed to diesel consumption to power their base stations, with some reports stating that large operators like MTN can spend over N30 billion per month on diesel alone.
To mitigate high energy costs, many telcos are actively investigating and implementing renewable energy solutions like solar and wind power to reduce their reliance on diesel.
For telcos to be Successful and profitable there should be operational efficiency especially of the infrastructure companies or owned infrastructure.
About 40%, if not more , of the operational challenges of the infrastructure companies or operator owned and managed infrastructure is in the cost of energy : diesel or gas, or renewables.
Analysts reason that how the industry is able to survive the cost and access to energy supply, especially for the infracos in a safe and sustainable manner, is the solution that must be tackled in the long run for sustainability of the industry in its oprations, user experience and profitability.
One analyst said there are several generic intervention initiatives by government, local and foreign development agencies and financial institutions, including some commercial banks in the energy sector, especially aimed at promoting renewable energy supply and usage in support of the operational and cost efficiencies of the target sectors.
“These well-intentioned initiatives have been customised in some instances
such as the government policy of energy for the health sector (energise health) or energy for education (energise education) initiatives.”
“These commendable policies work to provide renewable energy solutions to institutions such as primary health centres, Universities, University Teaching Hospitals and Federal Medical Centres that are generally limited, discretionary, tied to yearly budgets of government, most times apply to federal institutions, and lack maintainance and sustainability instruments.”
Telecommunications sector contributes more than 15% to Nigeria’s GDP and is entirely private sector driven but has an impact on all growth and development direction of the country and because it is perceived as a private sector commercially profitable business there has never been any deliberate intervention to address the critical component of the cost and quality of energy supply to the sector.
Perhaps because of its ubiquitous nature and lack of knowledge of the structure of the sector, there was never an attempt to isolate and address this subject.
Yet the ability of the sector to continue its impact on national growth and development is tied to availability and affordability of energy sustainably.
The country’s telecoms sector, with around 154 mobile subscribers, needs a significant amount of energy. It relies on over 40 million litres of diesel per month, and 34,862 towers in 2022 were dependent on diesel generators due to unreliable grid power.
As more people come online, telcos need more power. Monthly internet usage increased by 579.39 percent from 125,149.86 terabytes (TB) in December 2019 to 850,249.09 TB in September 2024. The amount of energy needed to power data traffic is around 0.17 kWh globally.
However, GSMA noted that it is 0.24 kWh per GB, reflecting the lower energy efficiency of networks on the continent.
According to the Association of Licensed Telecommunications Operators of Nigeria (ALTON), diesel accounts for 35 percent of telecoms’ operating expenses. In October, the average cost of a litre of diesel was N1441.28, meaning telcos spent at least N57.65 billion.
As of the end of 2022, the Nigerian Communications Commission (NCC) said there were 34,862 towers and 127,294 base stations in the country. According to industry sources, each base station has two generators. The telecoms industry spent N2.09 trillion on operational costs in 2022, based on the last data uploaded by the NCC.
Gbenga Adebayo, Chairman of ALTON, confirmed the current diesel consumption, stating, “It will be over that now.” According to Harmanpreet Dhillon, Airtel Nigeria’s chief technical officer, the telco spent N28 billion on diesel in May 2024.
During a media roundtable, Dhillon said that the company was exploring hybrid solutions—lithium batteries and solar—to lower its energy bill.
Experts recently noted that companies could save up to 30 percent on energy costs by adopting renewable energy solutions and other technologies.
“The biggest constraint in the telecom industry is high energy cost. If the government had continued to fulfill its part of the bargain it made in the early 2,000s to provide 18 hours of electricity, the heavy logistics and the capital we spend today from powering sites would not be there,” said Adebayo of ALTON.
By January 13, 2025, Nigeria could boast of 23 power-generating plants that are connected to the national grid. These plants are known as generation companies (GenCos).
Some examples of GenCos in Nigeria include Egbin Power Plc: Located at Egbin Power Station, Egbin Town, Ikorodu, Lagos State
First Independent Power Limited: Located in Trans-Amadi Port-Harcourt, Afam, Omoku, and Eleme
Geregu Power Plc: Located on Itobe Ajaokuta expressway, Kogi State
Other power companies in Nigeria are Mainstream Energy Solutions Limited, Sapele Power Plc (SPP), and Transcorp Power Limited.
They are managed by the Transmission Company of Nigeria (TCN) a body responsible for managing the electricity transmission network in Nigeria. The TCN is fully owned and operated by the government.
In 2024, the power generation capacity in Nigeria was 5,528 megawatts (MW). This was an increase of 30% from the average generation capacity of 4,100 MW in 2023.
There are 11 distribution companies in Nigeria.These include Enugu Electricity Distribution Plc. (EEDC): One of the 11 distribution companies in Nigeria
Jos Electricity Distribution Company Plc: An indigenous electricity company that distributes and sells electricity ,
Kano Electricity Distribution Plc (KEDCO): A distribution company in the north-western geopolitical zone of Nigeria ,
Yola Electricity Distribution Company Plc (YEDC): A distribution company that supplies energy to Adamawa, Taraba, Borno, and Yobe states
BEDC Electricity PLC is a distribution company that supplies electricity to a wide range of customers in Southern Nigeria
These companies are supplied with electric energy by the transmission companies on a daily basis.
Opinion
Tik Tok crisis may linger longer

By Sonny Aragba-Akpore.
While the American ban of Tik Tok is on hold for 75 days beginning from January 20,2025,the European Commission is currently scrutinizing Tik Tok,s practices regarding data protection,advertising transparency and potential addictive design features,particularly concerning young users.
African countries have high usage in general in some countries with Kenya being at the forefront.But some have frowned at its usage.
The restrictions in Europe on the app, are particularly on government employee devices due to security concerns, while in Africa, some nations have completely banned TikTok due to worries about inappropriate content and potential political misuse, with Kenya being a notable exception where usage is high.
Some African governments have banned TikTok due to concerns about the spread of inappropriate content, political rhetoric, and others.
Despite concerns, many African creators use TikTok to showcase their culture and creativity.
The ban in the USA could affect American companies like Apple, Google, and Oracle.
The ban could chill certain types of investment and create a slippery slope that applies to other companies.
A TikTok ban in the United States could have several implications, including:
App store removal where TikTok would be removed from app stores like Apple and Google.
Updates would no longer be available as users are unable to update the app, which could lead to performance issues and compatibility problems.
The app could eventually become unusable without updates.
Data security stands risks of inability to associate with a TikTok ban.
There will be Geopolitical consequences as the ban could raise concerns about the government targeting individual companies.
The ban could send a message that the U.S. government is afraid of the Chinese government influencing Americans.
The ban could make online experiences more insular and inconsistent from country to country.
As the future of the social media platform remains murky, plans for an American entity to purchase TikTok appear to be narrowing in scope.
While several individuals and companies have thrown their hats into the ring with interest, President Donald Trump recently expressed his support of two tech giants: Elon Musk, CEO of Tesla and SpaceX, and Larry Ellison, co-founder of Oracle. Oracle, a software company, houses most of TikTok’s U.S. servers.
Plans are already on to meet the 75-day window to stabilize Tik Tok.
General Atlantic CEO Bill Ford said last week that a deal would get done to save TikTok in the U.S. after President Donald Trump signed an executive order that halted a ban on the app for 75 days.
“It’s in everybody’s interest,” Ford told journalists at an event in Davos, Switzerland. Ford is on the board of directors for ByteDance, Tiktok’s Chinese parent company.
“We’ll get on with it, as soon as maybe the end of the week in terms of negotiating what might work … The Chinese government, the U.S. government and the company and the board all have to be involved in this conversation,” Ford added.
Trump’s executive order paused the enforcement of a bipartisan law passed by Congress last year that required ByteDance to sell TikTok’s U.S. assets by Sunday for the app to continue functioning in the country. It was passed amid national security concerns that the Chinese government could get access to Americans’ personal information through the app.
Tik Tok was taken down for 24 hours after the Supreme Court ruling for its ban before President Trump,s Executive Order for a 75-day stay of enforcement.
But the service interruption TikTok instituted hours earlier caught most users by surprise. Experts had said the law as written did not require TikTok to take down its platform, only for app stores to remove it.
Current users were expected to continue to have access to videos until the app stopped working due to a lack of updates.
The company’s app also was removed from prominent app stores, including the ones operated by Apple and Google. Apple told customers with its devices that it also took down other apps developed by TikTok’s China-based parent company, ByteDance including one that some social media influencers had promoted as an alternative.
Under the federal legislation, which remains in place despite Trump’s order, companies could be fined $5,000 per users they help access TikTok. For Google and Apple, this could mean a $5,000 fine for each user who downloads or updates TikTok. For internet hosting services like Oracle, it could mean a $5,000 fine for each user that accesses TikTok using their services.
To break that down, if reportedly 170 million Americans use TikTok and companies could be charged $5,000 per user, that amounts to about $850 billion in fines, spread across different types of tech companies.
Even for tech giants like Google, Apple and Oracle, these are “hefty fines” they could be facing, according to agency reports.
> Apple and Google will be mostly hit by the ban .App Store specifically listed Tik Tok apps including
TikTok,TikTok Studio,
TikTok ,Shop Seller Center,CapCut,Lemon8,
Hypic,Lark – Team Collaboration
Lark – Rooms Display
Lark Rooms Controller will be affected.
Apple said if a user already has the apps on their device, they will remain there but can’t be redownloaded and won’t provide updates. The apps also won’t allow in-app purchases or new subscriptions during the ban.
Instagram Reels, YouTube Shorts, and Triller are similar to TikTok in functionality but with some minor differences. Reels allows videos up to 90 seconds, Shorts up to 60 seconds, and Triller supports longer videos (up to 3 minutes) with advanced editing tools, ideal for music videos. For more editing flexibility, use Movavi Video Editor to customize your clips before posting.
For adult content creators seeking creative freedom, Triller offers advanced editing tools and music-powered features that turn basic videos into pro-level content, while Likee provides a wide range of effects to make your videos more engaging. When you need even greater flexibility and control, try Movavi Video Editor to fine-tune clips, adjust audio, add special effects, and create smooth transitions.
Prior to the Supreme Court ruling in more than two-hour appearance before a panel of three judges at a federal appeals court in Washington, attorneys for the two sides – and content creators – were pressed on their best arguments for and against the law that forces TikTok and its China-based parent company ByteDance to break ties by mid-January 2025 or lose one of their biggest markets in the world.
Andrew Pincus, a veteran attorney representing the two companies, argued in court that the law unfairly targets the company and runs foul of the First Amendment because TikTok Inc. – the U.S. arm of TikTok – is an American entity. After his remarks, another attorney representing content creators who are also challenging the law argued it violates the rights of U.S. speakers and is akin to prohibiting Americans from publishing on foreign-owned media outlets, such as Politico, Al Jazeera or Spotify.
On Monday September 16,2024,ByteDance and it’s short video platform,Tik Tok appeared at a crowded court in Washington DC,the United States of America (USA) before a panel of three judges to appeal against a law that was likely to ban the company from doing business in the USA by January 2025 if it does not divest its operations.
While this legal tussle was ongoing,Nigerian content creators appeared to be the first victims of this long drawn battle between Tik Tok and the American government.
While the content creators wondered what becomes of their trade,Facebook and Instagram were also making things more difficult for them.
Tik Tok ,Facebook and Instagram may have strong reasons for their actions but not as much as we know.
Meta Group,owners of Facebook,Instagram and WhatsApp last week deleted over 1,600 users in Nigeria for alleged scamming activities.
The deleted 1,600 Facebook groups are allegedly linked to Yahoo Boys.
-
Economy24 hours ago
Naira records three-day rise against dollar on black market
-
Metro24 hours ago
Armed robbers infiltrate UI hostel, steal students’ phones, other valuable items
-
News11 hours ago
“I pray not to die until Nigeria becomes debt free nation –Pastor Oyedepo
-
Economy24 hours ago
FG’s deficit spending declines 15% to N908.13bn
-
Metro24 hours ago
Kebbi: Police neutralize four kidnappers, rescue victim
-
News18 hours ago
Despite his ‘acidic’ tongue, Tinubu hails El-Rufai at 65
-
News24 hours ago
Families of Slain Coal Miners Drag FG, UK Govt, Others to Court, Seek Compensation
-
News23 hours ago
Food Security: Tinubu approves expansion of 12 river basins