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About N24.72bn has been out of place in 10 days after the Federal Government banned Twitter

According to Statista, Nigeria has over 33 million lively social media users, which include about 26% on Twitter.

While speaking on the restriction, Ayoola Olukanni, Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, said it has a greater negative impact on micro, small, and medium enterprises that rely on social media to conduct business.

 “Communication is a significant part of sales and marketing in this digital age.  Consequently, the Twitter ban will likely impact negatively and disrupt businesses especially Micro, Small and Medium Enterprises who rely on social media, such as Facebook, Instagram including Twitter to conduct business.

It will consequently maximum possibly negatively effect the IT zone of the financial system that is already dealing with numerous different challenges.

While it can be taken into consideration that there are opportunity social media systems, the abrupt nature of the suspension could suggest a lack of current contacts and a fee of migration

We ought to of direction additionally now no longer and cannot, discountenance the countrywide protection measurement of the misuse of social media and micro-running a blog systems to encourage violence outdoor its use to behavior Business.”Olukanni said"

This ban on June five comes after the microblogging platform took down a debatable tweet from the legit deal with of the President.

Last week, the Federal Government introduced that the microblogging webweb page has reached out for talks and that the Federal Government will now offer operational licenses to such webweb sites in the event that they desire to perform in Nigeria.

Reports from an global Internet Monitor, NetBlocks Cost of Shutdown Tool, Nigeria loses N102.9m equal to $250,six hundred each hour to the ban.

The virtual rights advocacy internet site calculates the monetary price of a web outage, cell records blackout, or app restrict the use of World Bank, International Telecommunication Union (ITU), and Eurostat metrics, amongst others.

According to its records, Nigeria misplaced an predicted N2.1 billion naira whilst Twitter became close down for twenty-four hours.

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