ELON MUSK FACES CIVIL SECURITIES FRAUD SUIT OVER TWITTER PURCHASE AS HE EYES SPACEX IPO. (PHOTO).

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 Elon Musk faces civil securities fraud suit over Twitter purchase as he eyes SpaceX IPO  Since acquiring Twitter for roughly $44 billion in late 2022, Elon Musk has renamed the platform X, merged it with his artificial intelligence company xAI, and integrated both into his defense and space company, SpaceX. Musk’s next major move could be taking SpaceX public in what would likely be a record-setting IPO, but first, he is confronting legal challenges from his past. On Wednesday, Musk appeared in federal court in San Francisco to face allegations of civil securities fraud tied to his Twitter purchase. Investors filed a class action in October 2022, claiming Musk manipulated Twitter’s stock to pressure the board into selling at a lower price than initially promised. Musk’s legal team denies any intent to harm Twitter or its shareholders. During the hearing, Musk acknowledged that his tweets can affect stock prices, sometimes unpredictably, and described the market as “manic depr...
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80,812 PRISON POPULATION, 64% AWAITING TRIAL INMATES - CORRECTIONAL SERVICE. (PHOTO).

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 80,812 Prison Population, 64% Awaiting Trial Inmates - Correctional Service

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‎Awaiting trial inmates now account for 64 percent of Nigeria’s custodial population, as the Nigeria Correctional Service seeks ₦198.85 billion for its 2026 operations. 


Controller-General of the Service, Sylvester Nwakuche, made this known while presenting the agency’s 2025 budget performance and 2026 estimates before the House of Representatives Committee on Reformatory Institutions in Abuja, highlighting congestion across correctional facilities and the need for more infrastructure. 


According to him, as of February 9, 2026, the total inmate population stood at 80,812. Of this figure, 51,955 are awaiting trial inmates, 24,913 are convicted inmates, while 3,850 fall under other detention categories.

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‎The Committee's Chairman, Chinedu Ogah, called for urgent reforms increased funding, and presidential assent to the Correctional Service Trust Fund Bill, describing the agency as central to national security but poorly funded.


He noted that many correctional facilities were built over a century ago and have deteriorated significantly, contributing to recurring security breaches and operational strain.

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