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
Lagos State Governor,Mr Akinwunmi Ambode,today sunday expressed a heartfelt gratitude to President Muhammadu Buhari for approving the hand-over of the Presidential Lodge in Marina to the Lagos State Government.The President's gesture followed a request by Governor Ambode to have the presidential lodge released to the Lagos State Government in its bid to transform the Marina-Onikan axis into a world-class arts and tourism hub.The President's approval was communicated in a letter signed by his Chief of Staff,Mallam Abba Kyari,to Governor Ambode.In a statement signed by the State's Commissioner for Information and Strategy,Mr. Steve Ayorinde,Governor Ambode thanked the President for his kind gesture and magnanimity,saying the President's large heart demonstrates his ''keen admiration for Lagos State as the Centre of Excellence that is well suited to becoming Africa's foremost hub for arts,entertainment and tourism''.The statement said with the presidential approval,Governor Ambode has consequently unveiled plans to turn the erstwhile lodge to the Heritage Centre for Leadership,which would subsequently be redesigned and equipped as a landmark research and tourist arena that will be open to local and International visitors.''On behalf of the government and people of Lagos State,I wish to express our heartfelt gratitude to President Muhammadu Buhari for his kind hand-over of the Presidential Lodge in Marina to the Lagos State government.This,in my opinion,demonstrates the President's special interest in Lagos State,which is in line with the promise he made in Lagos during the electioneering campaign,that the interest of Lagosians will always be paramount in his heart'',Governor Ambode said.It added that the President Buhari's approval had come at a time that the old Lagos State House in Marina,which is next door to the Presidential Lodge,is also being prepared for a transformation to The Lagos History Centre,as a mark of honour to and celebration of all formar governors of Lagos State,as well as for the benefit of humankind as a whole.The State Executive Council has already approved the Lagos House Marina to be turned into Lagos History Centre for tourism purposes.''With the handing over off the Presidential Lodge to Lagos State,the Lagos State Government will begin a process that will transform the whole area into a culture zone in the next two to three years that every Lagosian will be proud off.These two buildings will be nurtured as world-class monuments by the Lagos State Government to compliment the ongoing larger plan that aims to transform the Marina-Onikan axis into a multi-sectorial culture zone,'' the Governor said.
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