INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  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
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MTN NIGERIA,WITHDRAWS THEIR SUIT AGAINST FEDERAL GOVERNMENT,TODAY.

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                                Today friday,MTN Nigeria has formally announced the withdrawal of the court case against the Federal Government of Nigeria.According to a statement issued today friday,i which the telecommunication company said that this is in order to pave way for continue settlement discussions with the Federal government towards an amicable resolution of the matter in the best interests of the company and Nigeria.In restrospect,MTN on 24th of February 2016,announced its withdrawal of the court case and made an initial payment of N50 Billion without prejudice.This payment was made on the basis that it would be applied towards a settlement when one is arrived at.Speaking in the press statement the Chief Executive Officer {CEO} MTN Nigeria,Ferdi Moolman said ''We have kept our promise to withdraw and we have followed through by formally doing so.This is in line with the premium we place on good corporate citizenship''.The formal withdrawal today at the Federal High Court,with all parties in attendance,signals further progress in the negotiations between MTN Nigeria and the Nigerian government.Speaking further,Moolman described the development as another manisfestation of good faith and intent by MTN Nigeria.We have confidence in the equally good intentions of the Nigerian authorities and the strength of our mutual commitment to an amicable resolution.''The high priority that Government is giving to the sustainability of the industry assures us of a truly integrated approach amongst all parties,to the growth of ICT as a critical enabler of social-economic development in Nigeria''.One more photo below.                                                                     

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