E-Business
SERAP Urges Lawmakers to Reject Social Media Regulation Bill

Socio-Economic Rights and Accountability Project (SERAP) has urged the lawmakers to reject the recently reintroduced social media regulation bill which if passed would unduly restrict the rights to freedom of expression and privacy.
This was disclosed in a letter dated 14 October 2023 and signed by Kolawole Oluwadare, SERAP deputy director.
SERAP urged them to request the administration of President Bola Tinubu to drop any ongoing efforts to put pressure on Google, YouTube, TikTok and other social media companies to unduly restrict these fundamental human rights.
SERAP said the bill would criminalize the legitimate and lawful exercise of human rights.
The National Broadcasting Commission (NBC) last week reportedly stated that, “one of Nigeria’s major problems now is social media”, and described the social media as “a monster”
SERAP said: “the social media is neither Nigeria’s problem nor a monster. Any regulation of it would have arbitrary and excessive effects, and cause incalculable damage, both in material and human rights terms.”
SERAP said any move to regulate social media would be inconsistent and incompatible with the provisions of the Nigerian Constitution 1999 [as amended] and the country’s international human rights obligations.
According to SERAP, the proposed bill raises serious concerns about the rights to freedom of expression and privacy, and would lead to digital siege.
The letter, read in part, “Rather than rushing to pass the social media regulation bill, the National Assembly should encourage the Federal Government to maximize opportunities around social media access, and address the growing social and economic inequalities in the country.
“We would be grateful if the recommended measures are immediately taken upon the receipt and/or publication of this letter. SERAP shall take all appropriate legal actions against the National Assembly and the Federal Government if the social media regulation bill is ever passed into law.
“We urge you to request the administration of President Bola Tinubu to publish the details of any ongoing discussion and engagement with Google, YouTube, TikTok and other social media companies.
“The reintroduction of the social media regulation bill would lead to deterioration of the human rights situation in the country and carry major economic costs for all sectors, as well as exacerbate social and economic inequalities.
“It would effectively deepen digital divides in the country and seriously undermine the Tinubu administration’s expressed commitment to develop this sector.
“Under international law, all restrictions on the operation of social media companies and other intermediaries must comply with the requirements of legality, legitimacy and necessity.
“The regulation of social media may be incompatible with the services of major social media and private messaging intermediaries, negatively impacting the free flow of information and ideas, and affecting economic and social activities.
“The National Assembly should put pressure on the Federal Government to comply with the requirements of the Nigerian Constitution 1999 and the country’s international human rights obligations regarding the rights to freedom of expression, privacy and participation.
“Access to social media is widely recognized as an indispensable enabler of a broad range of human rights. It is central to freedom of expression and the realization of many other human rights including education, freedom of association and assembly, access to information, and participation.
“The Federal Government has the legal obligations to promote and facilitate the enjoyment of human rights, and to take all steps necessary to ensure that all individuals have meaningful access to social media. The authorities should refrain from unduly interfering with access to digital communications platforms.
“Under Section 39 of the Nigerian Constitution, Article 19 of the International Covenant on Civil and Political Rights and Article 9 of the African Charter on Human and Peoples’ Rights, any restriction on freedom of expression constitutes a serious curtailment of human rights.
“The Nigerian Constitution and these human rights treaties protect everyone’s right to freedom of expression, which includes the freedom to seek, receive and impart information of all kinds, regardless of frontiers. States have the obligation to respect and ensure the right to freedom of expression, without distinction of any kind.
“The Nigerian Constitution and human rights treaties protect a broad range of expression, including political discourse, commentary on one’s own and public affairs, canvassing, discussion of human rights, journalism, and artistic expression.
“This includes information that may be regarded as offensive, false or untrue by some people but is considered legitimate political discourse by others. Restrictions on the right to freedom of expression are only permissible when they meet the requirements of legality, necessity, proportionality and non-discrimination.
“The onus to show that restrictions comply with those requirements is on the State seeking to restrict rights. Social media regulation bills generally do not meet those requirements.”
“The African Commission on Human and Peoples’ Rights has called upon States not to engage in or condone any restriction of access to the Internet or other digital technologies for segments of the public or an entire population.
“According to our information, Director-General of the National Broadcasting Commission (NBC), Balarabe Ilelah, recently stated that the social media regulation bill has been sent to the National Assembly. The bill is reportedly seeking to repeal and reenact the NBC Act, CAP L11 laws of the Federation of Nigeria 2004.
“According to the NBC, ‘We have already submitted a bill to amend the NBC act. One of our major problems now is social media. Unless there is a law that allows NBC to act on social media issues, the issue will continue to be a monster in our daily lives in this country.’
“Similarly, Mrs. Francisca Aiyetan, Director, Broadcast Monitoring of the NBC, recently reportedly said that without regulation, young people could be misguided. According to the NBC, the Federal Government is currently engaging with Google or YouTube, TikTok, ‘so we know the faces behind these [social media] platforms.’
“If the 2023 social media regulation bill which has reportedly passed the first reading before the National Assembly is the same as the 2019 bill, it would impose disproportionate penalties on Nigerians solely for exercising their human rights.
“According to our information, the newly reintroduced social media regulation bill seems to be the replica of the version of the Protection from Internet Falsehood and Manipulation Bill 2019, with provisions empowering the authorities to unilaterally order the shutdown of the internet.
“A similar bill to regulate social media was considered by the National Assembly in 2015 but failed to pass into law after public outcry.”
E-Business
Huawei Unveils AI Computing System to Challenge Nvidia’s Flagship Product

China’s Huawei Technologies unveiled an AI computing system on Saturday that an industry expert said rivals Nvidia’s most advanced product, as the company aims to expand its footprint in the country’s booming AI sector.
The CloudMatrix 384 system made its public debut at the World Artificial Intelligence Conference (WAIC), a three-day event in Shanghai, attracting a large crowd to Huawei’s booth with its showcase of cutting-edge AI innovations.
The system has attracted significant interest from the global AI community since Huawei (HWT.UL) first introduced it in April. Industry analysts see it as a direct challenger to Nvidia’s GB200 NVL72, the most advanced system-level offering currently available from the U.S. chipmaker.
In an April article, Dylan Patel, founder of semiconductor research firm SemiAnalysis, stated that Huawei now possesses AI system capabilities that could surpass those of Nvidia.
Huawei staff at its WAIC booth declined to comment when asked to introduce the CloudMatrix 384 system.
A spokesperson for Huawei did not respond to questions.
Huawei has become widely regarded as China’s most promising domestic supplier of chips essential for AI development, even though the company faces U.S. export restrictions.
Nvidia CEO, Jensen Huang told Bloomberg in May that Huawei had been “moving quite fast” and named the CloudMatrix as an example.
The CloudMatrix 384 system features 384 of Huawei’s latest 910C chips and, according to SemiAnalysis, surpasses Nvidia’s GB200 NVL72 in certain performance metrics, despite the latter using 72 B200 chips.
SemiAnalysis attributes this performance advantage to Huawei’s strong system design, which offsets the lower power of individual chips by leveraging a greater number of them and incorporating system-level innovations.
Huawei describes the system as utilizing a “supernode” architecture that enables ultra-high-speed interconnectivity between chips.
In June, Zhang Pingan, CEO, Huawei Cloud confirmed that the CloudMatrix 384 was already operational on Huawei’s cloud platform.
E-Business
Transcorp Hotels Delivers Stellar H1 Results, Declares Over ₦1Bn Dividend

Transcorp Hotels Plc has delivered a stellar performance in the first half of 2025, recording a 60% year-on-year surge in revenue to ₦47.57 billion, up from ₦29.72 billion in H1 2024. Gross profit climbed 71% to ₦36.21 billion, maintaining a strong 76% margin despite inflation and operational headwinds.
The hospitality giant, a subsidiary of Transnational Corporation Plc, also announced an interim dividend payout of ₦1.024 billion — offering ₦0.10 per 50 kobo ordinary share to shareholders.
In a bold move, the company unveiled Nigeria’s largest corporate venue — the 5,000-seat Transcorp Centre — staking its claim as the new leader in event hospitality. Chairman Emmanuel Nnorom described the results as proof of Transcorp Hotels’ transformative strategies and unwavering investor commitment. MD/CEO Uzo Oshogwe attributed the success to relentless execution and a resilient business model.
Transcorp Hotels, renowned for iconic assets like Transcorp Hilton Abuja and its digital platform Aura, says it isn’t just leading Nigeria’s hospitality sector — it’s redefining excellence across Africa.
E-Business
Microsoft Servers Hacked by Chinese Groups

Chinese “threat actors” have hacked Microsoft’s SharePoint document software servers and targeted the data of the businesses using it, the firm has said.
China state-backed Linen Typhoon and Violet Typhoon as well as China-based Storm-2603 were said to have “exploited vulnerabilities” in on-premises SharePoint servers, the kind used by firms, but not in its cloud-based service.
The US tech giant has released security updates in response and has advised all on-premises SharePoint server customers to install them.
“Investigations into other actors also using these exploits are still ongoing,” Microsoft said in a statement.
The firm said it had “high confidence” the hackers would continue to target systems which have not installed its security updates.
It added that it would update its website blog with more information as its investigation continues.
Microsoft said it had observed attacks in which hackers had sent a request to a SharePoint server “enabling the theft of the key material by threat actors”.
Charles Carmakal, chief technology officer at Mandiant Consulting firm, a division of Google Cloud, told reporter, it was “aware of several victims in several different sectors across a number of global geographies”.
Carmakal said it appeared that governments and businesses that use SharePoint on their sites were the primary target.
A number of adversaries who stole material encoded by cryptography were then able to regain ongoing access to the victims’ SharePoint data, he said.
“This was exploited in a very broad way, very opportunistically before a patch was made available. That’s why this is significant,” Carmakal said.
Carmakal said the “China-nexus actor” was deploying techniques similar to previous campaigns associated with Beijing.
Microsoft said Linen Typhoon had “focused on stealing intellectual property, primarily targeting organizations related to government, defence, strategic planning, and human rights” for 13 years.
It added that Violet Typhoon had been “dedicated to espionage”, primarily targeting former government and military staff, non-governmental organizations, think tanks, higher education, the media, the financial sector and the health sector in the US, Europe, and East Asia.
Meanwhile, Storm-2603 was “assessed with medium confidence to be a China-based threat actor”.
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