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
Taxi Operators in Lagos state,must now ensure cars used by them for the business have working air conditioners for the comfort of their passengers.This is one of the stipulations in the state Road Traffic Law Regulations for Taxi operator's passed by the State House of Assembly at its valedictory late yesterday monday.Those who argued against some of the stipulations argued that the regulations should be tried one after the other so as to give the operators time to adjust.They also argued that the regulations could be an opportunity for law enforcement agents to rxtort money from the operators.But those in favour of passing the regulations said it would just be right to commence implementation and then carry out a review and possible adjustments later.As approved by the House,every cab operating in Lagos State must now be duly registered in this case,they must obtain operational licenses from the state ministry of transport.The regulation further grants the ministry the rights to arrest unlicensed cab operators as the lawmakers argued that licensing the operators would help sterm insecurity in the state.
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