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

FRSC,DEBUNK SOCIAL MEDIA REPORTS OF FEDERAL HIGH COURT NULLIFYING ITS POWERS.

                     The Federal Road Safety Commission {FRSC} yesterday monday has refuted social media reports that a Federal High Court in Lagos has nullified its powers to issue fines,tickets and impound offender vehicles.Speaking to the Press in Abuja,Mr Bisi Kazeem,the commission's Public Relations Officer,said FRSC was aware of the post on social media questioning it's powers to punish traffic offenders.He said ''The truth is that there is no recent judgement of the FHC Lagos on the Tope Alabi case as is being circulated.What happened was that one Bar Tope Alabi challenged the powers of the FRSC to arrest him and impound his vehicle and make him pay fines for offences alleged.The FHC presided over by Justice Tsoho held that FRSC had no such powers.This was in Sept,2014.However,in a case on all fours with the Tope Alabi case earlier in March,same year,2014,same Justice Tsoho in the case of Bren Williams & Anor vFRSC,held that FRSC had staturory powers to issue notice of offence,arrest,and detain vehicles suspected to have been used to commit traffic offences''.According to Kazeem,on that same day Justice Tsoho delivered another judgement similar to the Tope Alabi case in Emmanuel Ofoegbu v FRSC.He said Justice Tsoho held that FRSC had no powers to set deadlines for motorists to change over to new number plates and that it would be ultra vires the powers of FRSC.This he said was its power to arrest motorists for not using the new number plates under the National Road Traffic Regulations,2012,a subsidiary legislation to the FRSC Act,2007.He said the decision was challenged on Appeal.The Court of Appeal held,inter alia,in Oct,2014.''That FRSC had statutory powers conferred by its enabling laws made pursuant to the Nigerian Constitution to regulate the use of number plates,design and set deadlines for change over to new ones.The September 2014 judgment of Justice Tsoho which has also been challenged on Appeal i the one currently being circulated on social media by mischief makers.Note that in another case by the same Tope Alabi before same Justice Tsoho,the Federal High Court.Taking a cue from the Court of Appeal's decision in Emmanuel Ofoegbu's case,held in FRSC's favour in Juune,2015.For the avoidance off doubt,there are reported Court of Alleal decisions to the effect that FRSC has powers to arrest,issue notice of offence to suspected violators; And impound vehicles used to commit traffic offences and electing to pay the prescribed fines instead of challenging the notice of offence in court does not amount to unsurpation of court powers''.Adding that ''It is the voluntary decision of whoever decides to pay fines instead of challenging the notice of offence in court''.He listed the cases as Ediru vs FRSC {2016} 4 NWLR.Pt 1502,pp209-247 and Esekhaigbe vs FRSC,{2015} 12NWLR,PT 1474 @ 520-537.He said that the Court of Appeal's decisions no doubt override whatever was decided in the Tope Alabi case,which is also being challenged on Appeal''.One more photo below.                                                                                               

Comments

  1. This is well prompted rejoinder, otherwise motorists will capitalize on the wrong information issued earlier to ridicle FRSC and its operations. Thank you...SMP.ENUKORAH AJULUCHUKWU..R.S2.16, Unit 47.

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