INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).
Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c
Today friday President Buhari gave the directive in his address during the Inauguration.He said it was impossible to achieve victory against the insurgents if the command continued to operate from Abuja.''My appeal for unity is predicated on the seriousness of the legacy we are getting into with depleted foreign reserves,falling oil price,leakages and debts the Nigerian economy is in deep trouble.It will require careful management to bring it round and to tackle the immediate challenges confronting us,namely,Boko Haram,the Niger Delta situation,the power shortages and unemployment,especially among young people.The most immediate is Boko Haram insurgency.Progress has been made in recent weeks by our security forces but victory cannot be achieved by basing the command and control centre in Abuja.The command centre will be relocated to Maiduguri and remain there until Boko Haram is completely subdued''.
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