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FACEBOOK INC

(FB)
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Facebook : Nigeria demands social media firms get local licence

06/09/2021 | 02:39pm EDT

ABUJA, June 9 (Reuters) - Social media firms wanting to operate in Nigeria must register a local entity and be licensed, the country's information minister said on Wednesday, the government's latest move since it banned Twitter last week.

"We are insisting that for you to operate in Nigeria you must first be a Nigerian company and be licensed by the broadcasting commission," said Lai Mohammed, Nigeria's information minister, of social media companies.

The new regulations will include conditions for continued operation, Mohammed said, without elaborating. The move comes amidst what critics say is a broader crackdown on freedom of expression in Africa's most populous country that has drawn comparisons to Nigeria's decades of military rule in the 20th century.

Nigeria's government last week said it had suspended Twitter's activities, two days after the platform removed a tweet by President Muhammadu Buhari that threatened to punish secessionists. Nigerian telecoms firms have since blocked access to Twitter.

Buhari is a former military ruler.

Mohammed did not give a deadline for registration and licensing, but said some firms were given notice, without naming the affected companies. He did not respond to calls and a message seeking details.

"Twitter has consistently made its platform available to those who are threatening Nigeria’s corporate existence," said Mohammed, naming a separatist leader and anti-police brutality protesters.

The minister said Facebook and its subsidiaries Instagram and WhatsApp had not been suspended, but did not say whether they would need to register and get a licence.

(Reporting by Felix Onuah; Writing by Paul Carsten; Editing by Andrea Ricci)


ę Reuters 2021
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Financials (USD)
Sales 2021 115 B - -
Net income 2021 37 701 M - -
Net cash 2021 84 017 M - -
P/E ratio 2021 25,3x
Yield 2021 -
Capitalization 935 B 935 B -
EV / Sales 2021 7,37x
EV / Sales 2022 5,99x
Nbr of Employees 60 654
Free-Float 83,9%
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Technical analysis trends FACEBOOK INC
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Mean consensus BUY
Number of Analysts 53
Average target price 384,54 $
Last Close Price 329,66 $
Spread / Highest target 39,5%
Spread / Average Target 16,6%
Spread / Lowest Target -31,7%
EPS Revisions
Managers and Directors
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
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