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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PRESIDENT TINUBU RENEWS THE APPOINTMENT OF NIPSS DG, PROF AYO OMOTAYO. (PHOTO).

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 PRESIDENT TINUBU RENEWS THE APPOINTMENT OF NIPSS DG, PROF AYO OMOTAYO


President Bola Tinubu has approved the renewal of the appointment of Professor Ayo Omotayo as the Director-General of the National Institute for Policy and Strategic Studies (NIPSS), Kuru.


A statement by Bayo Onanuga

Special Adviser to the President, Information and Strategy, indicates that the appointment is for a final term of four years.


President Muhammadu Buhari initially appointed Omotayo in November 2021. The Senate confirmed the appointment in February 2022. 


Omotayo is a Professor of Environmental Sustainability. He attended the University of Ibadan from 1980 to 1990, where he obtained a PhD in Geography. 


He began his teaching career at the Lagos State University in 1985 and rose through the ranks to become a Senior Lecturer in 1992 at the age of 30. 


He was the Dean of the Faculty of Social Sciences between 2012 and 2017 and the Director of the Centre for Planning at Lagos State University until he was appointed Director-General of the National Institute in 2021.

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