News

Mark Zuckerberg Set To Launch New App To Rival Twitter

Published

3 years ago

July 4, 2023

Editor

Elon Musk spent the weekend further alienating Twitter users with more drastic changes to the social media giant, and he is facing a new challenge as tech nemesis Mark Zuckerberg prepares to launch a rival app this week.

Zuckerberg’s Meta group, which owns Facebook, has listed a new app in stores as “Threads, an Instagram app”, available for pre-order in the United States, with a message saying it is “expected” this Thursday.

The two men have clashed for years but a recent comment by a Meta executive suggesting that Twitter was not run “sanely” irked Musk, eventually leading to the two men offering each other out for a cage fight.

Since buying Twitter last year for $44 billion, Musk has fired thousands of employees and charged users $8 a month to have a blue checkmark and a “verified” account.

On the weekend, he limited the posts readers could view and decreed that nobody could look at a tweet unless they were logged in, meaning external links no longer work for many.

He said he needed to fire up extra servers just to cope with the demand as artificial intelligence (AI) companies scraped “extreme levels” of data to train their models.

But commentators have poured scorn on that idea and marketing experts say he has massively alienated both his user base and the advertisers he needs to get profits rolling.

In another move that shocked users, Twitter announced Monday that access to TweetDeck, an app that allows users to monitor several accounts at once, would be limited to verified accounts next month.

John Wihbey, an associate professor of media innovation and technology at Northeastern University, told AFP that plenty of people wanted to quit Twitter for ethical reasons after Musk took over, but he had now given them a technical reason to leave too.

And he added that Musk’s decision to sack thousands of workers meant it had long been expected that the site would become “technically unusable”.

– ‘Remarkably bad’ –

Musk has said he wants to make Twitter less reliant on advertising and boost income from subscriptions.

Yet he chose advertising specialist Linda Yaccarino as his chief executive recently, and she has spoken of going into “hand-to-hand combat” to win back advertisers.

“How do you tell Twitter advertisers that your most engaged free users potentially will never see their ads because of data caps on their usage,” tweeted Justin Taylor, a former marketing executive at Twitter.

Mike Proulx, vice president at market research firm Forrester, said the weekend’s chaos had been “remarkably bad” for both users and advertisers.

“Advertisers depend on reach and engagement yet Twitter is currently decimating both,” he told AFP.

He said Twitter had “moved from stable to startup” and Yaccarino, who remained silent over the weekend, would struggle to restore its credibility, leaving the door open to Twitter’s rivals to suck up any cash from advertisers.

– ‘Open secret’ –

The technical reasons Musk gave for limiting the views of users immediately brought a backlash.

Many social media users speculated that Musk had simply failed to pay the bill for his servers.

French social data analyst Florent Lefebvre said AI firms were more likely to train their models on books and media articles than social network content, which “is of much poorer quality, full of mistakes and lacking in context”.

Yoel Roth, who stepped down as Twitter’s head of security weeks after Musk took over, said the idea that data scraping had caused such performance problems that users needed to be forced to log in “doesn’t pass the sniff test”.

“Scraping was the open secret of Twitter data access,” he wrote on the Bluesky social network — another Twitter rival.

“We knew about it. It was fine.”

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

12 minutes ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

2 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.

News

Xenophobic Attacks: Oshiomhole Tells FG To Retaliate Against South African Companies In Nigeria

Published

20 hours ago

May 5, 2026

Editor

Senator Adams Oshiomhole has called on the Federal Government to retaliate against South African businesses operating in Nigeria following the recent attacks on Nigerians in South Africa.

Speaking during plenary on Tuesday, Oshiomhole said the Federal Government should consider revoking the working license of South African owned companies such as MTN and DSTV.

He argued that Nigeria must respond firmly to what he described as persistent hostility against its citizens.

“I am not going to shed tears. If you hit me, I hit you. I think it is appropriate in diplomacy. It is an economic struggle,” Oshiomhole said.

He argued that while some South Africans accuse Nigerians of taking their jobs, Nigerians should return home and take over employment opportunities created by major South African companies operating in the country, including MTN and DSTV.

“When we hit back, the President of South Africa will not only talk but will also go on his knees to recognise that Nigeria cannot be intimidated.

“We will not condone any life being lost. If a crime has been committed under the South African law they have the right to bring any such person to justice, but to kill our people as if we are helpless, we will not allow that,” Oshiomhole added.

DAILY POST reports that several Nigerians in South Africa have reportedly been attacked, and their businesses destroyed, in ongoing xenophobic attacks in the country.