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
The Minister of Information and Culture,Alhaji Lai Mohammed,said 40 Nigerian Festival Managers have been trained by the British Council on the maanagement of festivals for economic gains,under the Memorandum of Understanding {MoU} signed by the Ministry and the Council.The Minister made the disclosure in Abuja on thursday when he received the British High Commissioner to Nigeria,Mr Paul Arkwright,on a courtesy visit to his office.''The MoU we signed with the British Council in Edinburgh last year has started yielding some fruits.In February,we had the first training of forty Festival Managers in collaboration with the British Council.This is the first time that we are having this kind of collaboration between the British Council and the Ministry.These Festival Managers,on the successful completion of their training,have been assured that they will also be attached to various festivals all over the world where they will understudy the technical,financial and management aspects of festivals because we look at our culture and heritage as another area where we can diversify the economy'',he said.Alhaji Mohammed said Nigeria has commenced discussion with Britain on how the country can learn from the British experience in combating the piracy of intellectual property in order to adequately monetize the creative industry in Nigeria.He also reiterated the commitment of the present administration to the ease of doing business in Nigeria,particularly in adopting a flexible visa regime that will ensure easy access to the country by investors,tourists and journalists.
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