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
In what is set to become a major milestone achievement in its 50 years of existence,the Lagos State Government on wednesday signed a Memorandum of Understanding {MoU} to kick start the construction of the 38km 4th Mainland Bridge,expected to bring a 14 year old dream to reality.The Bridge,which is geared towards economic growth in the State,is expected to gulp N844 billion in a Public Private Partnership {PPP} initiative and would be delivered in three years.Speaking at the signing of the MoU held at the Banquet Hall,Lagos House,Ikeja,State Governor,Mr Akinwunmi Ambode,said that the need for the bridge had become imperative following the phenomenal growth of the State with a population of over 21 million people,which has in turn increased commercial activities and traffic gridlock.''This has made it imperative for us to have a 4th Mainland Bridge that will serve as an alternative route to the Eastern axis and decongest traffic in the State.More importantly this bridge will provide the required transportation compliment to the rapidly growing industrial activities on the Eti-Osa-Lekki-Epe corridor of the state''.He said the proposed alignment of the Bridge will pass through Lekki,Langbasa and Baiyeiku towns along the shoreline of the Lagos Lagoon estuaries,further running through Igbogbo River Basin and crossing the Lagos Lagoon estuaries to Itamaga Area in Ikorodu.The Governor said the alignment will also cross through the Itoikin road and the Ikorodu-Sagamu Road to connect Isawo inward Lagos Ibadan Expressway at Ojodu Berger axis.He said the Bridge would be made up of eight interchanges to facilitate effective interconnectivity between different parts of the State.''This structure will be a Four-lane dual carriageway with each comprising three lanes and to metres hard shoulder on each side.The bridge will be constructed to have a generous median to allow for both future carriageway expansion and light rail facility.There is no gain saying the fact that hughe benefits will be derived from this project but most importantly,make life more comfortable for Lagosians''.More photos below. 
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