(PDF) Effect of Twitter Ban on Foreign Investors in Nigeria

CHAPTER ONE

INTRODUCTION

Background of the study

The term “social media” is frequently used to describe new kinds of media that allow for interactive involvement. The evolution of media is often split into two epochs: the broadcast epoch and the interactive epoch. During the broadcast era, media was nearly entirely centralized, with one institution such as a radio or television station, newspaper business, or film production studio disseminating messages to a large audience. Media feedback was often indirect, delayed, and impersonal. Individual contact was generally mediated on a much smaller scale, generally via personal letters, phone conversations, or sometimes on a little larger scale via photocopied family newsletters. Individual contact on a wide scale became simpler for people than ever before as a result of the development of digital and mobile technologies; as a result, a new media age was created, with interactivity at the heart of new media functions. One person could now communicate with a large number of others, and immediate feedback was a possibility. Citizens and customers used to have restricted and sometimes muffled voices, but today they can express their thoughts with a large number of people. Because of the cheap cost and accessibility of modern technology, people now have more choices for media consumption than ever before, and instead of relying on just a few news channels, they can now seek information from a variety of sources and discuss it with others through message boards. Social media is at the heart of this continuing transformation.

All forms of social media use a digital platform, whether it’s mobile or fixed. However, not all digital content is inherently social media. Social media is defined by two qualities. To begin with, social media allows for some kind of engagement. Even though social networking platforms like Facebook enable passive observation of what others are sharing, social media is never entirely passive. At the very least, a profile must be established that enables for the possibility of engagement to begin. That characteristic alone distinguishes social media from conventional media, which does not allow for personal accounts. Second, social media encourage engagement, which is in keeping with their participatory character. This contact may take place with long-time friends, relatives, or acquaintances, as well as with new individuals who have similar interests or even belong to the same acquaintance group. Although many social media platforms were or are originally seen as new, as they grow more incorporated into people’s personal and professional life, they become less noticeable and more anticipated.

Statement of research problem

Nigeria government placed a ban on twitter on the 4th of june 2021, For the second time in six months, a major government announcement is causing startup founders and investors to ponder the effect of politics and sudden regulation on doing business in Nigeria. In February, it was the Central Bank of Nigeria’s ban on cryptocurrency transactions. This time it is the ban on Twitter, a social media platform that has been used for everything from crowdsourcing pro-bono lawyers for people in distress and finding missing persons, to raising capital. On January 11 this year, the Cowrywise team received a direct message from Sahil Lavingia, a tech entrepreneur and angel investor from Silicon Valley. He had learned about the savings and wealth management startup and wanted to invest, so he reached out the best way he could via Twitter. Two weeks and two days later, Cowrywise closed a $3 million pre-seed round. It was led by Quona Capital, a multinational investment firm, with Lavingia and other investors participating. “The power of Twitter,” Lavingia declared after the announcement. “The timing of this DM was just perfect…” Razaq Ahmed, Cowrywise’s CEO, said. In a different decade, startup fundraising in Africa involved long-distance travels. Primed by stories of fake companies and phantom Nigerian princes, investors needed to physically verify business authenticity, assess startup-investor chemistry and speak to customers. In 2021, investing in Nigeria can take one DM. But this ease and perfection is now under threat. Twitter ban has thereby affected the way international community view Nigeria and has also sent a wrong signal to foreign investors as they feel they can not open a tech company in Nigeria example of which is Ghana where the CEO of twitter chose as the headquaters of twitter in Africa . this has sent signal to the international community and tech investors as a whole that Nigeria is not a fully democratic Nation where freedom of speech and other forms of human rights are not respected.

Objectives of the study

The primary objectives of the study is as follows

Research questions

The following questions have been prepared for the study

Do you think there are causes and effect of twitter ban in Nigeria.?
Do you think the ban on twitter has positive or negative effect on foreign investor?
What are the impact of the ban on twitter on Nigerian twitter users
Do you think twitter ban can be lifted in Nigeria

Significance of the study

The significance of this study cannot be underestimated as:

This study will examine stress management practices of career women in Lagos state Nigeria.
The findings of this research work will undoubtedly provide the much needed information to government organizations, career women, companies and academia.

Scope of the study

This study examines effect of twitter ban on foreign investors in Nigeria . hence, this study will be delimited to twitter users in lagos state. Nigeria

Limitations of the study

This study was constrained by a number of factors which are as follows:

just like any other research, ranging from unavailability of needed accurate materials on the topic under study, inability to get data

Financial constraint , was faced by the researcher ,in getting relevant materials and in printing and collation of questionnaires

Time factor: time factor pose another constraint since having to shuttle between writing of the research and also engaging in other academic work making it uneasy for the researcher

Operational definition of terms

Effect: a change which is a result or consequence of an action or other cause

Twitter: give a call consisting of repeated light tremulous sounds.

Foreign investors: refers to the investment in domestic companies and assets of another country by a foreign investor

REFERENCE

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

boyd, danah m., & Ellison, Nicole B. (2007). “Social Network Sites: Definition, History, and

Scholarship.” Journal of Computer Mediated Communication, 13, article 11.

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