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

WE'II DELIVER LAGOS-IBADAN RAIL PROJECT BY DECEMBER 2018-OSINBAJO.{PHOTOS}.

Image may contain: 6 people, people standing, beard and outdoor                    Acting President of the Federal Republic of Nigeria,Professor Yemi Osinbajo on tuesday said that the Federal Government was committed to delivering a fast and efficient rail service system between Lagos and Ibadan within a projected time frame of December 2018.
Osinbajo,who spoke at the Ground Breaking Ceremony of the Segment II Lagos-Ibadan Rail Project with Extension to Lagoss Port Complex,Apapa,help at the Nigerian Railway Corporation compound,Ebute-metta,recalled that President Buhari,during his visit to China in January 2016,reopened negotiation on the Chinese support for the project under the Lagos-Kano modernization project.He said the ground breaking ceremony marked the commencement of the government's plan to move speedily to improve transport links with Lagos,the national economic nerve centre and major port to other state capital across the country.
''An active and vibrant railway system confers many benefits on the society.Our ultimate goal is to restore a railway using culture for both commercial and personal transportation.We are confident that the national rail project will create up to half a million jobs and facilitate the movement of up to 3.2 million tonnes of cargo per annum.It will also reduce the burden on national high ways,thus reducing deterioration of the road networks ans increasing the life span of our roads.Railway network will support efforts to diversify the economy and enhance our export potentials.Just as several our cities became known as railway towns in the past we expect to boost economic activities within the railway lines with eventually cut across the entire country,'' Osinbajo said.In his goodwill message,Lagos State Governor,Mr Akinwunmi Ambode said that the proposed extension of the Lagos-Ibadan Rail Project would go a long way to open up the economy of the South West region as well as facilitate regional integration and growth.He said ''A direct benefit of this project is that containers and goods from the Apapa Port will now be transported by rail thereby reducing the number of trailers and other heavy duty vehicles on our roads.A direct consequence of this project would be less productive man hours wasted on the road due to traffic gridlock and bad roads due to heavy duty vehicles.In addition,we expect government to expend fewer resources on road repair and maintenance once the rail line takes off and reduce the pressure of articulated vehicles on our roads''.More photos below.
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