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
According to one of my Reporters Joan Ugochukwu,she is reporting today that the Central Bank of Nigeria {CBN} has re-instated all the banks that were banned from the foreign exchange market.The Director,Banking Supervision,Mrs Tokunbo Martins,said today wednesday at a media briefing,stating that the decision was reached after a series of meeyings with the body of bank Chief Executive Officers {CEOs} and the Chartered Institute of Bankers of Nigeria {CIBN}.She said ''Well,we have had engagements with the body of CEOs and they have been interacting amongst themselves and I am happy to tell you today that the banks that were hitherto banned have been released from the ban.And the reason is because all of the banks after discussions and engagements under the auspices of the body of CEOs and the CIBN have all submitted credible repayment plans which we the CBN found acceptable.So as a result of that,all those banks have been re-instated in the foreign exchange market''.The CIBN President,Prof. Segun Ajibola,said that the institute was very much interested in what was happening among all the industry players.He added that under the aegis of the institute,the body of bank CEOs was now a formidable platform to look at issues that were pertinent to the industry and the economy,to ensure that stakeholder's interested was protected..'We will protect the interests of all our stakeholders and especially th bigger picture,which is Nigeria and its economy as a whole.So it is a happy development and I believe this will further help to strengthen our system and our economy''.The CBN had yesterday tuesday,banned nine Deposit Money Banks {DMBs} from the Nigerian foreign exchange market for failing to remit the sum of 2.3 billion dollars belonging to NNPC to the Treasury Single Account {TSA}.
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