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EFFECT OF TWITTER BAN ON FOREIGN INVESTORS IN NIGERIA

CHAPTER ONE

INTRODUCTION

Background of the study

People’s individual contact on a large scale became easier than ever before as a result of the development of digital and mobile technologies; as a result, a new media age was born, with interactivity at the center of new media functions. One individual could now communicate with a big number of others and receive quick feedback. Citizens and customers used to have limited and occasionally muffled voices, but now they may freely express themselves in front of a huge group of people. People today have more media consumption options than ever before, thanks to the low cost and accessibility of modern technology, and instead of relying on just a few news outlets, they may now seek information from a range of sources. All types of social media, whether mobile or fixed, rely on a digital platform. However, not all digital information is social media-friendly. Two characteristics characterize social media. To begin with, social media permits some kind of interaction. Despite the fact that social networking platforms such as Facebook allow for passive viewing of what others are sharing, social media is never completely passive. At a minimum, a profile must be created that allows for the prospect of engagement to begin. That feature alone sets social media apart from traditional media, which does not permit personal accounts. Second, because of their interactive nature, social media encourages participation. This interaction could be with long-time friends, relatives, or acquaintances, as well as new people with similar interests or who are in the same acquaintance group. Although many social media platforms were or are still considered new, they are becoming less noticeable and more anticipated as they become more integrated into people’s personal and professional lives.

Statement of research problem

On the 4th of June 2021, the Nigerian government imposed a ban on Twitter. A big government pronouncement is leading startup founders and investors to rethink the impact of politics and abrupt regulation on doing business in Nigeria for the second time in six months. The Central Bank of Nigeria imposed a ban on cryptocurrency transactions in February. This time, it’s a Twitter ban, a social networking tool that’s been used for everything from crowdsourcing pro bono lawyers for individuals in need to identifying missing people and generating finance. On January 11th, the Cowrywise team received a direct message from Sahil Lavingia, a Silicon Valley-based software entrepreneur and angel investor. He’d heard about the savings and wealth management firm and wanted to invest, so he contacted out via Twitter, which was the best way he could think of. Cowrywise closed a $3 million pre-seed round two weeks and two days later. Quona Capital, a worldwide investment group, spearheaded the way, with Lavingia and other investors joining in. After the announcement, Lavingia exclaimed, “The power of Twitter.” “The timing of this DM was just right…” remarked Cowrywise CEO Razaq Ahmed. In a previous decade, long-distance travel was required for startup financing in Africa. Investors needed to physically verify firm credibility, examine startup-investor chemistry, and speak with customers after hearing stories of phony companies and phantom Nigerian princes. Investing in Nigeria in 2021 will cost one DM. However, this ease and perfection are now under jeopardy. The Twitter ban has influenced how the world community views Nigeria, as well as sending the wrong signal to foreign investors who believe they will be unable to start a software company in Nigeria. For example, the CEO of Twitter chose Ghana as the site of the company’s African headquarters. This has conveyed a message to the international community and IT investors that Nigeria is not a fully democratic country that does not respect freedom of expression and other sorts of human rights.

Objectives of the study

The following are the study’s key goals:

To learn more about the reasons for Nigeria’s Twitter ban.

To determine the impact of the Twitter ban on international technological investors interested in investing in Nigeria.

The purpose of this study was to determine the impact of the Twitter ban on Nigerian twitter users.

To see if the Twitter ban may be overturned, as well as to discover strategies to entice internet investment to Nigeria.

Research questions

For the study, the following questions have been prepared.

Do you believe there are reasons and effects of Nigeria’s Twitter ban?

Do you believe the Twitter ban will have a beneficial or bad impact on international investors?

What effect would the Twitter ban have on Nigerian twitter users?

Do you believe Nigeria’s Twitter ban can be lifted?

Significance of the study

The importance of this research cannot be overstated:

The purpose of this study is to look into the stress management practices of working women in Lagos, Nigeria.

The outcomes of this study will surely provide much-needed information to government agencies, career women, businesses, and academic institutions.

Scope of the study

The impact of the Twitter ban on foreign investors in Nigeria is investigated in this study. As a result, the scope of this research would be confined to Twitter users in Lagos State. Nigeria

Limitations of the study

A variety of issues limited the scope of this investigation, including the following:

just like any other research, there are challenges, such as a lack of appropriate information on the issue under study and the inability to obtain data.

The researcher experienced financial constraints in obtaining essential resources, as well as in printing and collating questionnaires.

Time constraint: Another constraint is time, which makes it difficult for the researcher to balance writing the research while simultaneously doing other academic tasks.

Operational definition of terms

An effect is a change that occurs as a result of an activity or other cause.

Twitter: make a call that consists of mild tremulous sounds that are repeated.

Foreign investors: a foreign investor who invests in domestic enterprises and assets of another country.

REFERENCE

https://www.investopedia.com/terms/f/foreign-investment.asp

danah m. boyd and Nicole B. Ellison (2007). “Definition, History, and Analysis of Social Network Sites”

Journal of Computer Mediated Communication, vol. 13, no. 11, p. 11.

http://jcmc.indiana.edu/vol13/issue1/boyd.ellison.html

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