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TiKTok to take legal actions against President Trump’s ban

The U.S. government is worried that such information on users could be passed on to China’s authorities.

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TikTok to relocate headquarters to London following approval by UK ministers

TikTok recently disclosed that it would take legal action against President Trump’s executive order that ban transactions with the fast-growing video app and its Chinese parent company, ByteDance in a report credited to Reuters.

TikTok disclosed that it had tried to engage with the U.S administration for nearly a year, but faced “a lack of due process” and that the U.S authorities paid no attention to the facts.

“To ensure that the rule of law is not discarded and that our company and users are treated fairly, we have no choice but to challenge the executive order through the judicial system,” the company spokesperson said.

READ: Twitter freezes password reset to address cyberattack

Back Story:

Recall Nairametrics, about a month ago broke the news on President Trump, issuing directives that banned any U.S. transactions with the Chinese tech firms —Tencent and ByteDance. The ban which is to take effect in 45 days counting from the date of the announcement and could attract retaliation from the Chinese.

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According to Trump, the Chinese based apps “automatically captures vast swaths of information from its users. This data collection threatens to allow the Chinese Communist Party access to Americans’ personal and proprietary information.” He went on to say that the application also captures personal information of Chinese nationals visiting the U.S.

READ: TikTok to relocate headquarters to London following approval by UK ministers

While the popular based Chinese social app is known for short, trendy videos of people dancing and going viral among teenagers, the U.S. government is worried that such information on users could be passed on to China’s authorities.

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Featured Financial Market Analysis for a Fortune Global 500 Company. Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email [email protected]

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Coronavirus

COVID-19 Update in Nigeria

On the 22nd of November 2020, 155 new confirmed cases and 1 death was recorded in Nigeria

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 66,383 confirmed cases.

On the 22nd of November 2020, 155 new confirmed cases and 1 death was recorded in Nigeria, having carried out a total daily test of 4,083 samples across the country.

To date, 66,383 cases have been confirmed, 62,076 cases have been discharged and 1,167 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 743,298 tests have been carried out as of November 22nd, 2020 compared to 739,215 tests a day earlier.

COVID-19 Case Updates- 22nd November 2020,

  • Total Number of Cases – 66,383
  • Total Number Discharged – 62,076
  • Total Deaths – 1,167
  • Total Tests Carried out – 743,298

According to the NCDC, the 155 new cases are reported from 12 states- Lagos (60), Katsina (37), Kaduna (35), FCT (6), Ogun (4), Edo (3), Kwara (3), Rivers(2), Kano (2), Jigawa (1), Oyo (1) and Taraba (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 22,962, followed by Abuja (6,498), Plateau (3,800), Oyo (3,703), Rivers (2,956), Kaduna (2,895), Edo (2,694), Ogun (2,153), Delta (1,823), Kano (1,773), Ondo (1,727), Enugu (1,332),  Kwara (1,091), Ebonyi (1,055), Katsina (1,007), Osun (945), Gombe (938). Abia (926), Bauchi (753), and Borno (745).

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Imo State has recorded 662  cases, Benue (493), Nasarawa (485), Bayelsa (445),  Ekiti (353), Jigawa (328), Akwa Ibom (319), Niger (295), Anambra (285), Adamawa (261), Sokoto (165), Taraba (156), Kebbi (93), Yobe (92), Cross River (90), Zamfara (79), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

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The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

 

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Tech News

Nigerians pay heavy price as laptop scarcity bites harder

Enquiries from major distributors in Dubai and Nigeria indicate that back-log of orders are still yet to be shipped.

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The ongoing scarcity of laptops and personal computers (PCs) may worsen as industry experts are now projecting that the prevailing paucity may persist until the third quarter of 2021.

Previous reports indicate that the situation is a result of disruptions caused by the COVID-19 pandemic and increased demand for units worldwide.

Equally important, global computer Original Equipment Manufacturers (OEMs) have admitted that there are no easy fixes or a quick way out of the current scarcity, with a number of paid-up orders already being recalibrated for shipment in April/May or June next year. The situation has seen urgent requirements of laptops for business, learning and leisure needs grossly affected the world over.

Enquiries from major distributors in Dubai and Nigeria indicate that back-log of orders are still yet to be shipped. They insist that manufacturers, who are struggling to cope with supply chain disruptions, are finding it hard to clear their demand logs. The situation is the same with all the big players including HP, Lenovo, Dell, Asus, among others.

Nigeria, Africa’s biggest market, is one of the hardest hit by the current scarcity.

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Consumers, including businesses, educational institutions and individual users, are bearing the brunt of the situation, with prices flying for the few available units in the market as greedy retailers cash in on the prevailing scarcity to jack up their margins. A commentator, Bayo Oshunde, says the situation will get even worse as university students prepare to return to school in the face of a potential compromise between the Academic Staff Union of Universities (ASUU) which has been on a 10-month strike and the Federal Government.

‘‘The scarcity is really biting hard here in Nigeria. Prices are at an all-time high for few systems available in the market and a number of sellers are taking a pound of flesh from consumers as a result.

‘‘But this is just the beginning for Nigeria. In my opinion, the situation is going to get even worse before it gets better. Right now, the Federal Government has made a few significant concessions to ASUU and the word on the street is that the strike may be called off soon. The resumption of university students will put even greater pressure on demand for laptops, PCs and other devices.

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‘‘The downside of this is that many of our students in their final or penultimate years in school, whose parents or guardians cannot afford to compete for the heavily-priced few units on sale, will be forced to enter the already overstretched and fiercely-competitive labour market as analogue graduates,’’ he lamented.

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Cryptocurrency

Airbnb says Crypto, Blockchain key to future success

Airbnb highlighted the role cryptocurrency and blockchain play in the company’s success in future.

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AIRBNB

Airbnb, the world’s biggest and most popular vacation online rental marketplace, highlighted the role of cryptocurrency and blockchain technologies in the company’s success in the future.

In its recently released prospectus filed with the US Securities and Exchange Commission (SEC) for its long-awaited IPO, the company gave an in-depth insight on the role cryptos, blockchain will play.

READ: U.S Government makes biggest crypto grab, worth $1 billion

“Our future success will also depend on our ability to adapt to emerging technologies such as tokenization, cryptocurrencies, new authentication technologies, such as biometrics, distributed ledger and blockchain technologies, artificial intelligence, virtual and augmented reality, and cloud technologies. As a result, we intend to continue to spend significant resources maintaining, developing, and enhancing our technologies and platform.”

READ: De facto Government: CBN explains why it will keep funding the economy

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Nairametrics over a month ago broke down in detail on how Blockchain is arguably the next big thing after the emergence of electricity and the internet. It has started transforming businesses at an unimaginable rate, and those who have not been using the technology are now trying hard to get acquainted, master, and apply it to their organizational processes.

READ: Crypto deal: Google joins EOS community

What you should know: Airbnb is an online marketplace that allows individuals to let out their apartments or spare rooms to intended guests, at prices often lower than hotels.

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A few days ago, Narametrics revealed how Airbnb released its prospectus to debut on the Nasdaq Stock Exchange.

READ: TalentQL raised $300,000 pre-seed led by Zedcrest Capital

  • In its prospectus, the company put an emphasis on building a community around its hosts and guests, positioning that community as a differentiating factor from its competitors.
  • The company said it would set up 9.2 million shares of non-voting stock aside in an endowment fund for hosts.
  • Airbnb via its detailed prospectus revealed it made $219 million in net income on revenues of $1.34 billion last quarter. That was unsurprisingly lower than $1.65 billion in revenue a year prior.
  • Airbnb plans to trade under the symbol “ABNB” on the Nasdaq.

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