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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LAGOS STATE PAYS N891 MILLION TO 324 RETIREES.

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                The Lagos State Government has again paid the sum of N891 million to 324 retirees from the mainstream civil service,local governments,state universal basic education and other parastals for the month of July,2016.Speaking at the 29th Retirement Benefit Bond presentation ceremony recently,the Director-General ,State Pension Commission {LASPEC},Mrs Folashade Onanuga advised the beneficiaries to use the lump sum payment by their respective Pension Fund Administrator judiciously.She emphasized that the State government has fulfilled her own part of paying the retirees entitlements and that it is now left for the Pension Fund Administrators /Annuity Service Providers to fulfil their part of the arrangement by ensuring that monthly payment to retirees are made.While reiterating that the commission will continue to monitor the activities of pension operators to guarantee that they continue to fulfil their obligations to the State retirees,Onanuga implored beneficiaries to seek professional advice when making an investment decision with their payment.

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