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

ACCOUNTABILITY IS KEY TO NORTH EAST DEVELOPMENT PLAN.-SARAKI.

                    President of the Senate,Dr. Abubakar Bukola Saraki,yesterday friday stated that accountability and oversight must be necessary components in the nation's efforts to rehabilitate the insurgency-ravaged North Eas zone.Saraki's statement was in response to the conclusion of the four-day visit by the United Nations Special Rapporteur on human rights of internally displaced persons {IDPS}, Dr. Chaloka Beyani.The Senate President indicated that he was encouraged to learn that the international community is beginning to pay more attention to suffering in the North East.''We are hopeful about the increasing international attention being shown toward the North Eat.On our part,we need to make sure that our accountability mechanisms generate confidence in our ability to absorb and monitor the delivery of aid material and resource'',he stated.
The Senate President added that Nigeria was heading in the right direction in tackling the North East's humanitarian crisis,however,there are still many issues in the areas of accountability,such as sexual abuse,lack of protection and the provision of basic services that need to be addressed.''Gradually but surely,we are heading in the right direction.However,let us not take our foot off the gas pedal.We must make accountability an expectation in Nigeria's humanitarian relief infrastructure.Accountability must be built into all aspects of the relief to rehabilitation effort to promote greater confidence in our capacity'',he added.
He also emphasised that there is a need to focus less on the sensational stories of corruption in the relief effort and instead focus on more transparent systems to root out corruption and profiteering.Saraki further stated that when the 8th Senate resumes sitting later in the month,the humanitarian crisis in the North East will be a high priority.''As Senate President,I am sure that I speak for many of my colleagues when I say that we are more than willing to work with any and all Nigerian and international stakeholders to restore development,dignity and hope to the people of the north east'',he stated.
Signed
Yusuph Olaniyonu.

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