Moniepoint, Paga to block accounts of customers involved in crypto trading

Moniepoint,Paga to block accounts of customers involved in crypto trading

In a move that has sent shockwaves through Nigeria’s burgeoning cryptocurrency community, two of the country’s leading fintech platforms, Moniepoint and Paga, have announced plans to block the accounts of customers engaged in cryptocurrency trading activities. This decision comes amidst growing concerns from regulatory authorities over the potential risks associated with virtual currencies.

Crypto Crackdown Begins

The news first broke when Moniepoint, a popular online payment platform, sent out emails to its customers, stating that accounts found to be involved in cryptocurrency-related transactions would be suspended with immediate effect. The email, which has been circulating widely on social media, cited regulatory compliance as the primary reason for this drastic measure.

“In line with our commitment to comply with all relevant laws and regulations, we wish to inform you that Moniepoint will no longer facilitate transactions related to cryptocurrency trading or investment,” the email read. “Any account found to be involved in such activities will be blocked without further notice.”

Hot on the heels of Moniepoint’s announcement, Paga, another major fintech player in Nigeria, followed suit. In a statement released on their website, Paga informed its users that they would be implementing similar measures to prevent the use of their platform for cryptocurrency-related activities.

“Paga will no longer support transactions involving the purchase, sale, or transfer of cryptocurrencies,” the statement read. “This decision is in line with our commitment to adhering to all applicable laws and regulations.”

Impact on Nigeria’s Crypto Community

These developments have sent shockwaves through Nigeria’s vibrant cryptocurrency community, which has been steadily growing in recent years. Many Nigerians have turned to digital currencies as a hedge against the country’s economic instability, high inflation rates, and the devaluation of the naira.

Reacting to the news, several prominent figures in Nigeria’s crypto space expressed their disappointment and concern over the potential implications of these measures.

“This is a major setback for the adoption and growth of cryptocurrencies in Nigeria,” said Adedeji Owonibi, a well-known crypto enthusiast and founder of the Nigerian Blockchain Alliance. “Moniepoint and Paga are two of the most widely used fintech platforms in the country, and their decision to block crypto-related transactions will undoubtedly have a significant impact on the industry.”

Owonibi’s sentiments were echoed by many others in the community, who fear that these moves could stifle innovation and drive cryptocurrency activities underground, potentially exposing users to greater risks.

Regulatory Landscape

The actions taken by Moniepoint and Paga are likely a response to increasing pressure from Nigerian regulatory authorities, who have expressed concerns over the potential risks associated with cryptocurrencies, such as money laundering, terrorist financing, and financial instability.

In recent years, the Central Bank of Nigeria (CBN) has taken a cautious approach towards virtual currencies, issuing several warnings to the public about the risks involved in trading or investing in them.

In February 2021, the CBN went a step further by issuing a directive to all regulated financial institutions, instructing them to identify and close accounts used for cryptocurrency-related transactions. This move effectively cut off access to banking services for many crypto businesses and traders operating in Nigeria.

The CBN’s stance on cryptocurrencies has been largely driven by concerns over their potential impact on the country’s financial system and monetary policy. In a statement released in 2021, the central bank stated that “crypto assets are issued by unregulated and unlicensed entities, making them highly susceptible to fraud, money laundering, and terrorist financing.”

However, the cryptocurrency community in Nigeria has argued that these concerns are overblown and that digital currencies offer significant benefits, particularly in a country where access to traditional financial services remains limited for many.

“Cryptocurrencies have the potential to facilitate financial inclusion and provide a more secure and efficient means of conducting transactions,” said Chidi Anajemba, a blockchain consultant and advocate. “Instead of outright bans, we need a more balanced and forward-thinking approach from regulators that acknowledges both the risks and the opportunities presented by this technology.”

Battle for Legitimacy

The clash between Nigeria’s cryptocurrency community and regulatory authorities is part of a broader global debate over the legitimacy and regulation of virtual currencies. While some countries, such as El Salvador, have embraced cryptocurrencies and even adopted them as legal tender, others have taken a more restrictive approach, citing concerns over financial stability and consumer protection.

In Nigeria, the battle lines have been drawn, with crypto advocates calling for greater regulatory clarity and a more inclusive approach, while authorities remain wary of the potential risks posed by these emerging technologies.

“We need a constructive dialogue between all stakeholders to find a middle ground that addresses the legitimate concerns of regulators while also fostering innovation and financial inclusion,” said Anajemba.

Way Forward

As the dust settles from the latest developments, it remains to be seen how Nigeria’s cryptocurrency community will adapt and respond to the challenges posed by Moniepoint and Paga’s decision to block accounts involved in crypto trading.

Some users have already begun exploring alternative platforms and peer-to-peer trading options, while others are calling for more robust self-regulation within the industry to assuage the concerns of authorities.

Meanwhile, crypto advocates and industry leaders are gearing up for what promises to be a protracted battle for legitimacy and acceptance in Nigeria’s rapidly evolving fintech landscape.

“The road ahead may be challenging, but we remain committed to advocating for a more inclusive and innovative financial system that harnesses the full potential of blockchain technology and cryptocurrencies,” said Owonibi.

As the world continues to grapple with the disruptive force of digital currencies, Nigeria finds itself at the forefront of this evolving narrative, poised to shape the future of finance on the African continent and beyond.

Obi Cubana asks FG, state govts to make life easier for Nigerian youths

Nigeria’s celebrity businessman, Obi Cubana, has made a passionate plea to the Federal and State governments to prioritize policies and initiatives aimed at empowering the nation’s teeming youth population. In a recent interview, the Anambra-born entrepreneur expressed his deep concerns about the challenges confronting young Nigerians and urged the authorities to take decisive action to create an enabling environment for their growth and development.

Obi Cubana’s rise to fame and fortune is a testament to the indomitable spirit and resilience of Nigerian youths. His journey from humble beginnings to becoming one of the country’s most recognizable entrepreneurs has inspired countless young people to pursue their dreams and ambitions. However, Cubana acknowledges that his success story is an exception rather than the norm, as many Nigerian youths continue to grapple with daunting socio-economic obstacles that threaten to derail their aspirations.

The Plight of Nigerian Youths

Nigeria’s youth population, comprising individuals between the ages of 15 and 35, accounts for a staggering 70% of the country’s total population. This demographic dividend should be a source of immense pride and potential for the nation, yet the reality on the ground paints a grim picture. Millions of young Nigerians are faced with a myriad of challenges, including high unemployment rates, limited access to quality education, inadequate healthcare facilities, and a pervasive lack of opportunities for personal and professional growth.

The Nigerian Bureau of Statistics (NBS) reports that the youth unemployment rate in the country stands at a staggering 42.5%, with many graduates struggling to secure decent jobs or engage in meaningful economic activities. This alarming statistic not only represents a colossal waste of human capital but also poses grave risks to the nation’s social and economic stability.

Obi Cubana’s Call

In his impassioned plea, Obi Cubana emphasized the urgent need for the government to prioritize youth empowerment and create an enabling environment that fosters entrepreneurship, skills development, and job creation. He called for concerted efforts to address the root causes of youth unemployment, such as inadequate access to quality education, lack of vocational training opportunities, and the absence of a robust support system for aspiring entrepreneurs.

“Our youths are the lifeblood of our nation, and their success is intrinsically linked to the success of Nigeria,” Cubana stated. “It is imperative that the government recognizes the immense potential of our young people and takes decisive steps to unleash their talents and capabilities.”

Vision for a Prosperous Nigeria

Obi Cubana’s call to action resonates with the aspirations of millions of Nigerian youths who yearn for a brighter future. By addressing the pressing issues faced by the youth, Nigeria can tap into the immense potential of its demographic dividend and unlock a path toward sustainable economic growth, social stability, and national prosperity.

“Our youths are not merely the leaders of tomorrow; they are the catalysts of change today,” Cubana asserted. “By investing in their education, nurturing their entrepreneurial spirit, and creating an enabling environment for their growth, we are not only empowering individuals but also shaping the future of our great nation.”

Cubana’s passionate appeal serves as a rallying cry for stakeholders across all sectors to unite and prioritize the empowerment of Nigerian youths. As a nation blessed with abundant talent and resilience, addressing the challenges faced by the youth is not merely an obligation but a strategic imperative that holds the key to unlocking Nigeria’s true potential.

conclusion

Obi Cubana’s words echo the sentiments of a nation yearning for positive change. By heeding his call and taking decisive action, Nigeria can pave the way for a future where the dreams and aspirations of its youth are realized, and the nation’s inherent potential is fully unleashed.

Mr Macaroni Says He’s Not In The Market For A Relationship

Popular Nigerian skit maker and comedian Debo Adebayo, better known by his stage name Mr Macaroni, has made a surprising revelation about his relationship status. In a recent interview, the 29-year-old entertainer stated that he is currently not in the market for a serious romantic relationship.

This declaration from one of Nigeria’s most eligible bachelors has sent shockwaves through his massive female fanbase across the country and beyond. Mr Macaroni’s good looks, charming personality, and hilarious content have made him a fan favorite, with many admiring his talents both on and off the screen.

comedian opened up about his decision to prioritize his career and personal growth

During the candidate interview, the comedian opened up about his decision to prioritize his career and personal growth over finding a partner at this stage of his life. “Right now, I’m just too focused on building my brand and taking my career to new heights,” he explained. “A relationship is a serious commitment, and I don’t want to shortchange anyone by not being able to give it my full attention.”

Mr Macaroni’s rise to fame has been nothing short of meteoric. What started as a hobby of creating funny skits and sharing them on social media has blossomed into a full-fledged career in entertainment. His relatable content, which often pokes fun at everyday Nigerian life, has struck a chord with audiences nationwide.

With over 3 million followers on Instagram alone, the comedian has leveraged his popularity to secure lucrative brand endorsements and collaborate with some of the biggest names in the Nigerian entertainment industry. His hard work and dedication have paid off handsomely, earning him both financial success and widespread acclaim.

However, Mr Macaroni’s statement about his relationship status seems to contradict the perception many fans had of him as a romantic at heart. In several of his popular skits, he has portrayed the role of a loving boyfriend or husband, fueling speculation about his own personal life.

One particular skit that went viral featured Mr Macaroni surprising his on-screen girlfriend with an elaborate proposal, complete with a flash mob and a dazzling engagement ring. The heartwarming video had many fans swooning, wishing they could find a partner as thoughtful and romantic as the character he portrayed.

Mr Macaroni insists that he is currently focused on himself and his blossoming career

Despite these romantic depictions, Mr Macaroni insists that he is currently focused on himself and his blossoming career. “I’m at a point in my life where I need to be a little selfish and prioritize my personal growth,” he said. “A relationship requires compromise and sacrifice, and right now, I’m not willing to make those kinds of concessions.”

The comedian’s stance on relationships has sparked a heated debate among his fans and followers. While some applaud his commitment to his craft and self-development, others argue that he may be missing out on the joy and fulfilment that a healthy romantic partnership can bring.

Relationship experts have weighed in on the matter, offering varied perspectives on Mr Macaroni’s decision. Some believe that his approach is wise, as focusing too much on romantic pursuits at a young age can potentially derail one’s career ambitions. Others contend that finding the right partner can provide the emotional support and motivation needed to achieve even greater success.

Mr Macaroni’s decision to remain single has only amplified his popularity and mystique

Regardless of the differing opinions, one thing is clear: Mr Macaroni’s decision to remain single has only amplified his popularity and mystique. His legions of female fans, some of whom had harboured hopes of one day catching his eye, now find themselves in a frenzy, speculating about what the future may hold for their beloved comedian.

Some optimistic supporters believe that this is merely a temporary phase, and that the right woman will eventually come along and sweep Mr Macaroni off his feet. They point to his romantic portrayals in his skits as evidence that he has a soft, loving side yearning to be unleashed.

Others, however, fear that the pressures of fame and success may permanently deter the comedian from settling down, at least anytime soon. They worry that the constant attention and adulation from fans may make it difficult for him to form genuine connections and trust potential partners.

Regardless of where one stands on the debate, one thing is certain: Mr Macaroni’s declaration has only added to his allure and intrigue. As he continues to captivate audiences with his wit and comedic genius, fans will undoubtedly be watching closely, eager to see if the right woman will eventually change his mind about remaining single.

For now, the Nigerian entertainment industry’s most eligible bachelor remains focused on his craft, leaving a trail of broken hearts in his wake. Whether this is a temporary phase or a long-term commitment to bachelorhood remains to be seen.

Mr Macaroni’s not ready to share his heart with anyone

One thing is for sure Mr Macaroni’s romantic life, or lack thereof, will continue to be a subject of intense fascination and speculation for his ever-growing fanbase. In the meantime, his fans can take solace in the fact that his hilarious skits and endearing personality will continue to provide them with laughter and entertainment, even if he’s not quite ready to share his heart with anyone just yet.

Nigeria Appeals To USA To Repatriate More Stolen Wealth

In a move that has reignited the global conversation around illicit financial flows and the recovery of looted assets, the Nigerian government has issued an impassioned appeal to the United States, urging them to intensify efforts in repatriating stolen wealth stashed away by corrupt officials and their associates. This latest development underscores the persistent challenges that plague many developing nations grappling with the scourge of corruption and the consequent plundering of public resources.

The scale of the embezzlement that has plagued Nigeria

The scale of the embezzlement that has plagued Nigeria over the decades is staggering. Estimates from various international organizations and watchdog groups suggest that the country has lost hundreds of billions of dollars to corruption, with much of this ill-gotten wealth finding safe haven in foreign jurisdictions, including the United States. These staggering sums, which could have been invested in critical infrastructure, healthcare, education, and other vital sectors, have instead been siphoned off by a cabal of unscrupulous individuals, leaving the Nigerian populace to bear the brunt of crippling poverty and underdevelopment.

A Legacy of Corruption

Nigeria’s struggle with corruption is deeply entrenched, a remnant of a turbulent past marred by military dictatorships, misrule, and a culture of impunity that has persisted even in the country’s fledgling democratic era. From the notorious kleptocracy of General Sani Abacha, whose family is alleged to have embezzled billions during his reign in the 1990s, to more recent scandals involving high-ranking officials and businesspersons, the scourge of graft has cast a long shadow over the nation’s development aspirations.

The United States: A Crucial Partner in Asset Recovery

The Nigerian government’s appeal to the United States is not without precedent. Over the years, the U.S. has played a pivotal role in facilitating the repatriation of stolen assets to various nations, leveraging its robust legal framework and investigative capabilities. In the case of Nigeria, several high-profile cases have already resulted in the recovery of millions of dollars stashed away by corrupt officials and their associates.

One of the most notable examples is the ongoing effort to repatriate assets linked to former Nigerian dictator Sani Abacha and his associates. In 2014, the U.S. Department of Justice announced the repatriation of over $480 million in stolen assets to Nigeria, representing a significant victory in the fight against corruption. More recently, in 2020, the U.S. facilitated the return of an additional $311 million in assets linked to the Abacha regime, further underscoring the nation’s commitment to combating illicit financial flows.

Strengthening Cooperation and Legal Frameworks

Despite these successes, the Nigerian government’s latest appeal highlights the need for sustained and intensified efforts to recover stolen assets. The repatriation process is often beset by complex legal hurdles, jurisdictional challenges, and the sophisticated tactics employed by those seeking to conceal their ill-gotten gains.

To overcome these obstacles, experts and international organizations have called for enhanced cooperation between nations, streamlined legal frameworks, and the adoption of robust asset recovery mechanisms. The United Nations Convention against Corruption (UNCAC), ratified by both Nigeria and the United States, provides a comprehensive framework for international cooperation in asset recovery efforts, including provisions for mutual legal assistance and the establishment of dedicated asset recovery bodies.

Nigeria’s Appeal: A Clarion Call for Global Action

Beyond the immediate implications for Nigeria, the government’s appeal to the United States carries broader significance in the global fight against corruption and illicit financial flows. It serves as a stark reminder of the pervasive nature of these challenges and the urgent need for concerted international action.

Corruption is a transnational scourge that transcends borders, undermining economic development, eroding public trust, and exacerbating inequality. The recovery of stolen assets is not merely a matter of financial restitution but also a symbolic affirmation of the rule of law and a deterrent against future acts of graft.

By amplifying its call for the repatriation of stolen wealth, Nigeria has positioned itself at the forefront of this global movement, lending its voice to the growing chorus of nations demanding accountability and justice. The country’s appeal resonates with the collective aspirations of developing nations worldwide, many of which have been similarly afflicted by the scourge of corruption and the plundering of public resources.

As the world grapples with the multifaceted challenges of the 21st century, the recovery of stolen assets stands as a moral and economic imperative. It represents a crucial step towards restoring integrity, rebuilding trust in public institutions, and ultimately, creating an enabling environment for sustainable development.

Powerful Reminder that the fight against corruption

Nigeria’s appeal to the United States serves as a powerful reminder that the fight against corruption is a shared responsibility, requiring unwavering commitment and collaboration from all nations. By heeding this call and redoubling efforts to repatriate stolen wealth, the U.S. has an opportunity to reaffirm its leadership in the global fight against corruption and to set an example for other nations to follow.

Ultimately, the successful recovery of stolen assets is not merely a symbolic victory but a tangible step towards empowering nations to reclaim their rightful resources and invest in the betterment of their citizens. It is a testament to the enduring pursuit of justice, accountability, and the unwavering belief that no ill-gotten gain should be allowed to stand unchallenged.

As the world watches and waits, Nigeria’s appeal serves as a clarion call for global action, reminding us all that the path towards a more just and equitable world begins with the unwavering commitment to hold the corrupt accountable and to restore what has been unjustly taken.

Court stops increment in prices of DSTV, GOTV subscription

In a major win for television subscribers across the country, the Federal High Court in Abuja has issued an interim injunction halting the proposed increment in price of DSTV , GOTV subscription packages by MultiChoice Nigeria Limited.

The ruling, handed down on Friday, April 26th, 2024, came as a relief to millions of Nigerians who had been bracing for a significant hike in their monthly subscription fees. The court order effectively maintains the status quo, preventing MultiChoice from implementing the controversial price adjustment until the substantive suit is determined.

Legal Battle

The case was brought before the Federal High Court by a coalition of consumer rights groups and concerned individuals, who argued that the proposed price increase was not only exorbitant but also unlawful and anti-competitive.

Lead counsel for the plaintiffs, Barrister Adekunle Oyesanya, contended that MultiChoice’s monopolistic control over the pay-TV market in Nigeria had allowed the company to impose arbitrary price increments without regard for the economic realities faced by the average Nigerian consumer.

“MultiChoice has exploited its dominant position in the market to the detriment of millions of Nigerian households,” Oyesanya stated during the court proceedings. This proposed price hike is a slap in the face of hardworking Nigerians who are already grappling with the harsh economic conditions in the country.

MultiChoice’s Justification

In defense of the planned price adjustment, MultiChoice Nigeria cited rising operational costs, including the need to maintain and upgrade its infrastructure, acquire premium content, and comply with regulatory requirements.

The company’s legal team argued that the price increase was necessary to sustain its business operations and continue providing quality services to its subscribers.

“We understand the concerns raised by our esteemed subscribers, said MultiChoice’s lead counsel, Barrister Folarin Williams. “However, it is important to note that our pricing strategy is driven by the need to remain competitive, invest in cutting-edge technology, and deliver the best possible entertainment experience to our valued customers.

Interim Injunction

After careful consideration of the arguments presented by both parties, Justice Ijeoma Ojukwu of the Federal High Court in Abuja granted an interim injunction restraining MultiChoice from implementing the proposed price increment pending the determination of the substantive suit.

In her ruling, Justice Ojukwu acknowledged the potential hardship that the price hike could impose on Nigerian households, particularly in the current economic climate.

“The court recognizes the importance of protecting the rights and interests of consumers,” Justice Ojukwu stated. “It is imperative that we maintain a delicate balance between the commercial interests of service providers and the economic well-being of the general public.

Reactions and Implications

The court’s decision has been met with widespread applause from consumer rights advocates, who have long decried the perceived lack of competition and regulatory oversight in the pay-TV market.

“This ruling is a victory for the Nigerian consumer,” said Adeola Ogunbanjo, President of the Consumer Protection Council of Nigeria. “It sends a clear message that the rights and interests of consumers must be safeguarded, and that no company, no matter how powerful, is above the law.”

However, MultiChoice has expressed disappointment with the court’s decision, arguing that the price adjustment was necessary to maintain the quality of its services and sustain its operations in Nigeria.

“While we respect the court’s ruling, we remain committed to our mission of providing exceptional entertainment experiences to our subscribers,” said John Ugbe, CEO of MultiChoice Nigeria. “We will continue to explore legal avenues to ensure the long-term sustainability of our business.”

The interim injunction has also raised questions about the broader implications for the pay-TV industry in Nigeria. Some industry analysts suggest that the court’s decision could prompt other service providers to reevaluate their pricing strategies, potentially leading to more competitive offerings for consumers.

Consumer Advocacy and Market Dynamics

The legal battle between MultiChoice and consumer rights groups has brought to the fore the ongoing debate surrounding consumer protection, market competition, and regulatory oversight in Nigeria’s payTV industry.

For years, consumer advocates have decried the alleged lack of competition in the market, which they claim has allowed MultiChoice to maintain a virtual monopoly and dictate prices without meaningful opposition.

“The PayTV market in Nigeria has been dominated by a single player for far too long,” said Kemi Adeosun, a consumer rights activist and one of the plaintiffs in the case against Multi Choice. “This situation has created an imbalance of power, with consumers bearing the brunt of arbitrary price increments and subpar service delivery.”

Adeosun and other advocates have called for increased regulatory intervention and the creation of a more level playing field that would foster genuine competition and consumer choice.

“It is time for the government to step in and create an enabling environment for new players to enter the market,” Adeosun added. “Only then can we truly achieve fair pricing, improved service quality, and a better deal for Nigerian consumers.”

The Nigerian Broadcasting Commission (NBC), the regulatory body overseeing the pay-TV industry, has acknowledged the concerns raised by consumer groups and has pledged to review its policies and regulations to address the perceived monopolistic tendencies in the market.

“We are committed to creating a conducive environment for fair competition and consumer protection in the payTV sector,” said Ilelah Armstrong, Director-General of the NBC. “We will work closely with stakeholders to ensure that the interests of consumers are safeguarded while also promoting sustainable business practices for service providers.

The Way Forward

As the substantive suit against MultiChoice’s proposed price increment continues to wind its way through the legal system, all eyes will remain on the Federal High Court in Abuja.

The outcome of this case could have far-reaching implications not only for the pay-TV industry but also for consumer rights and market dynamics in Nigeria as a whole.

Consumer rights advocates and industry experts alike agree that the pay-TV market in Nigeria is in dire need of reform, with calls for increased competition, transparent pricing, and robust regulatory oversight becoming more insistent.

“This case is about more than just subscription fees,” said Adekunle Oyesanya, the lead counsel for the plaintiffs. “It is a battle for the rights of consumers to access affordable and high-quality services in a fair and competitive market.”

As the legal proceedings continue, Nigerian households can take solace in the knowledge that the court has, for now, protected their interests and maintained the status quo on subscription prices.

However, the long-term resolution of this issue will require a concerted effort from all stakeholders – consumers, service providers, and regulatory authorities – to strike a delicate balance between commercial interests and consumer protection, ensuring that the Pay-TV industry in Nigeria remains sustainable, competitive, and consumer-friendly.

The Most Popular Social Media Platforms Worldwide in 2024

The Most Popular Social Media Platforms Worldwide in 2022-Though 2022 just got started but there has been debate among friends, colleagues and families which i got to know and i decided I’m going to go on a research and find out the best social media platform of 2022.

So if you have found yourself in the middle of this kind of argument before now, this article is definitely for you, continue to read below as i give you the stats and the popularity of some social media platforms and why there are the most popular.

The list was not categorize by anyone, it was out of curiosity and research that i came up with this articles, However, There are so many social media platforms in the world, but some are not popular just like others and that does not mean there are not useful but it has not gained that worldwide popularity.

The Most Popular Social Media Platforms Worldwide in 2024

Facebook
YouTube
WhatsApp
Instagram
Facebook Messenger
TikTok
Twitter

1. Facebook

Facebook now trading as Meta is an American multinational technology conglomerate based in Menlo Park, California. The company is the parent organization of Facebook, Instagram, and WhatsApp, among other subsidiaries. Founded in 2004, 18years ago by Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, Chris Hughes.

Facebook Headquarters is located in Menlo Park, California, U.S with over 64, 177 number of employees as of September 30, 2021. As of 2020 it generated equity Increase of Total US$128.29 billion with over 2 billion active Facebook users. With all these i regard Facebook as one of the most popular social media platform in the world.

2. YouTube

YouTube came second here for a reason. The online video platform has over 2 billion users as of October 2020. YouTube is an American online video sharing and social media platform owned by Google. It was launched on February 14, 2005, by Steve Chen, Chad Hurley, and Jawed Karim. It headquarters is located 901 Cherry Avenue San Bruno, California, United States. YouTube has a revenue of US$19.8 billion as of 2020 and over 1 billion active users. With all these i regard YouTube as second of the most popular social media platform in the world.

3. WhatsApp

WhatsApp Messenger, or simply call it WhatsApp, is an internationally available American freeware, cross-platform centralized instant messaging (IM) and voice-over-IP (VoIP) service owned by Meta Platforms. It allows users to send text messages and voice messages, Make voice and video calls, and share images, documents, user locations, and other content. WhatsApp requires a cellular mobile telephone number to sign up. Almost everyone you know should be using WhatsApp, The reason is not far fetched, has has made it easy to send, receive messages, videos and documents so therefore comes second on this list.

4. Instagram

Instagram is the fourth on my list here. Is an American photo and video sharing social networking service founded by Kevin Systrom and Mike Krieger. In April 2012, is a subsidiary under Facebook Inc. The app allows users to upload media that can be edited with filters and organized by hashtags and geographical tagging. One unique thing about Instagram is that is available in 32 languages. Instagram has over 200 million active users. With Phone number or email, you can sign up account on Instagram.

5. Facebook Messenger

Messenger is an instant messaging app and platform developed by Meta Platforms. Originally developed as Facebook Chat in 2008, the company revamped its messaging service in 2010, released standalone iOS and Android apps in 2011. Facebook messenger has over two billion download and over one billion active users. That is massive.

Most Facebook users use Facebook messenger because it makes chatting and sharing of other information to another Facebook account user very easy. The App is now available in iOS and Android for free.

6. TikTok

TikTok, known in China as Douyin (Chinese: pinyin: Dǒuyīn), is a video-focused social networking service owned by Chinese company ByteDance Ltd. It hosts a variety of short-form user videos, from genres like pranks, stunts, tricks, jokes, dance, and entertainment with duration from 15 seconds to three minutes. The social media App was released in September 2016. Currently, available in 40 languages and has over 400 million active users.

7. Twitter

Twitter is an American micro blogging and social networking service on which users post and interact with messages known as “tweets”. Registered users can post, like, and retweet tweets, but unregistered users can only read those that are publicly available. It has over 330 million monthly active users with a total equity of US$ 7.97 billion as of 2020.

Conclusion

The above listed social media platforms for me is currently the most popular, like i said earlier i came up with it after my research. However, there are so many other social media platform that are popular but not to be compared like the ones i listed above such as Snapchat, Wechat, Hangouts etc.

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