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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FG WARNS AGAINST MONEY BOUQUET AHEAD OF VALENTINE'S DAY.(PHOTO)

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 FG warns against money bouquet ahead of Valentine's Day.


The Central Bank of Nigeria (CBN) has classified “money bouquets” as a form of naira abuse, adding it to offences such as spraying, squeezing, selling, and defacing banknotes.


Money bouquet is when money is folded to look like a flower petal and then arranged together to create a bouquet.


The CBN made this known in a flier shared on its Twitter handle that listed forms of abusing the naira.


The apex bank captioned the post, “It is your civic duty to protect the naira. Report naira abuse today.”


Under the CBN Act, anyone caught tampering with the naira faces a minimum of six months in prison or a fine of at least ₦50,000.


Nigerians have been urged to protect the naira and report violations as enforcement agencies step up actions against offenders nationwide.


The CBN also provided toll-free hot-lines through which the apex bank could be reached to report such activities. 


This comes just days before the celebration of Valentine's Day, which sees many display their love by gifting their loved ones money bouquets and other items.

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