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SEC Sues Elon Musk Over Delayed Disclosure of Twitter Stake Purchase

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The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against tech billionaire Elon Musk, accusing him of failing to promptly disclose his ownership of more than 5% of Twitter ahead of his acquisition of the company in 2022.

According to the SEC, Musk began purchasing Twitter shares early in 2022, surpassing the 5% threshold on March 14, 2022.

Under securities laws, Musk was required to disclose his holdings within 10 days, but he didn’t reveal that he owned 9% of Twitter until April 4, which was 11 days later than the legal deadline.

The delay in disclosure is said to have led to a 27% jump in Twitter’s share price after Musk made the announcement.

The SEC also claims that Musk’s actions resulted in an underpayment of at least $150 million for the shares he bought during that period.

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The SEC is now seeking to have Musk repay the $150 million, plus additional penalties.

In response, Musk’s lawyer, Alex Spiro, defended his client, insisting that Musk had “done nothing wrong.”

Spiro also accused the SEC of running a “multi-year campaign of harassment” against the billionaire.


 

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Gboko Chairman Imposes Dusk-to-Dawn Curfew Following Violent Protests in Benue

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The Chairman of Gboko Local Government Area of Benue State, Torseer Yina, has imposed a dusk-to-dawn curfew in the ancient town.

The curfew takes effect from Thursday, October 8, 2026, following unrest and violent protests in the area.

According to reports, the action was taken to contain the unrest and violent protests by members of BEMOA following the death of one of its members by unknown gunmen.

The protest, which was reportedly hijacked by hoodlums, turned violent after an angry mob burnt two vehicles belonging to the Benue State Civil Protection Guards.

The Gboko council chairman said the curfew takes effect immediately and warned that anyone caught flouting the order or breaching public peace would be decisively dealt with.

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FRSC Warns Against Speeding After Car Crash On Ijebu-Ode-Benin Expressway

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Nine people have died in a fatal road crash along the Ijebu-Ode-Benin Expressway in Ogun State.

The crash occurred on Monday at about 4:55pm around the Bethel area along the Ijebu-Ode/Ore axis of the expressway. It involved a white Toyota Hiace commercial bus belonging to Delta Line and a white Sino truck operated by Bill Gas Solution Ltd.

According to the Federal Road Safety Corps (FRSC), all nine people involved in the crash, comprising three males and six females, died in the incident.

The FRSC said the crash occurred while it was raining and the road was wet, with preliminary investigations identifying speed violation as the probable cause.

The FRSC rescue team arrived at the scene shortly after receiving the report, while the bodies of the victims were taken to the General Hospital Morgue in Ijebu-Ode.

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The Ogun State Sector Commander, Oludare Ogunjobi, urged motorists, especially commercial drivers, to obey speed limits and exercise extra caution when driving in the rain.


 

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Education Minister Says Teachers Can Never Be Replaced by Technology – Tunji Alausa

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Minister of Education, Dr Tunji Alausa, speaks on the role and importance of teachers in the world to celebrate Teachers’ Day today.

He spoke on technology and its advancement and shared that while it is going well, teachers can never be replaced.

“These tools can help teachers reach learners and tailor instruction, but the judgement, encouragement and human connection of a skilled teacher remain indispensable,” he said.

“Every doctor, engineer, scientist, entrepreneur and public servant has benefited from a teacher and could not have become what they are today without teachers,” the minister said.

“When we honour teachers, we honour the people who make every other profession possible.”

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