Nigerian businesses will be required to pay a monthly fee of N460,500 for Twitter verification

To get the Twitter verification badge, Nigerian businesses will now now be required to pay a monthly fee of N460,500 monthly. Business organizations also have to pay an extra N23,030 monthly for each business or individual affiliated with them to get verified.

It has been speculated that is a part of Elon Musk’s scheme to recover the $44 billion he invested while acquiring the company.

Twitter blue had previously been released by the company for individuals, but the verification for businesses which gives a gold badge becomes available globally Friday, March 31, 2023.

“Verified Organization is a new way for organizations and their affiliates to distinguish themselves on Twitter. Rather than relying on Twitter to be the sole arbiter of truth for which accounts should be verified, vetted organizations that sign up for Verified Organizations are in full control of vetting and verifying accounts they’re affiliated with”, the company said, explaining what the new verification plan means.

Twitter also went ahead to say a few more things in hopes of establishing further clarification :

“Accounts affiliated with the organization will receive an affiliate badge on their profile with the organization’s logo and will be featured on the organization’s Twitter profile, indicating their affiliation. All organizations are vetted before they can join Verified Organizations.”

“We’ve already seen organizations, including sports teams, news organizations, financial firms, Fortune 500 companies, and non-profits join Verified Organizations and list their affiliated accounts publicly on their profiles. And starting today, Verified Organizations are available globally. We are now sending email invitations to approved organizations from the waitlist.”

IMPLICATIONS OF THE NEW FEE

•The introduction of this monthly fee will undoubtedly have significant implications for businesses operating in Nigeria. Small businesses, in particular, may struggle to justify the expense of Twitter verification, especially given the current economic climate.

•The new fee also raises concerns about the fairness and accessibility of Twitter verification. By charging such a high fee, the government risks creating a situation where only the most financially stable businesses can afford to be verified on Twitter.

•Social media marketing in Nigeria also has a high risk of being affected by the imposition of the new fee. Lots of businesses may be forced to seek other alternative marketing channels which could in turn lead to decreased engagements on Twitter.

There have been several speculations and debates as to what the timing of this move means and why the implementation is set to take place. Some have stated that this is simply a means for  Elon Musk to make the company profitable seeing as the company was on the verge of bankruptcy prior to his takeover.