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
Nigeria today wednesday won the right to host in 2018,the 61st meeting of African Ministers in charge of Tourism,tagged the UN World Tourism Organisation {WTO} Commission for Africa {CAF}.Nigeria won the hosting right by acclamation following the presentation of a five minute video,entitled ''Simply Nigeria'',to delegates at the ongoing 59th edition of the UNWT CAF Meeting in Addis Ababa,Ethiopia,by the Minister of Information and Culture,Alhaji Lai Mohammed.The compelling video,which highlighted Nigeria's rich cultural heritage and tourism destinations,was greeted by a prolonged applause.Responding,the Chairman of UNWTO Commission for Africa and Zimbabwean Minister of Tourism and Hospitality Industry,Dr Walter Nzembi,said: ''Procedurally,when a member state offers its destination for the host of the next CAF,we all put that request to a test,do I take the applause of the Minister's presentation to mean your approval of Nigeria as next destination call?'' The question was greeted by a more resounding applause,confirming Nigeria as the host of the 2018 meeting.Making a case for Nigeria's bid,which was launched at the 58th edition of the UNWTO CAF Meeting in Abidjan,Cote d'Ivoire.in 2015,the Minister said it presents an opportunity for the country of almost 200 million people ''to showcase our rich cultural heritage and to promote Nigeria as a leisure and business destination''.He described Nigeria as a ''fascinating country'' which previously hosted the UNWTO CAF Meeting in 2003,2008 and 2012,.,in addition to hosting the Second World Festival of Black and African Festival of Arts and Culture in 1977.Alhaji Mohammed said Nigeria is a country of peaceful and hospitable people,and that the 2018 UNWTO CAF Meeting will be a practical demonstration of the government's commitment to developing the tourism sector as an alternative source of revenue.Earlier in the day,he told the delegates that the Nigerian government has defeated the Boko Haram insurgency,noting that occasional attacks on soft targets by the insurgents who are now on the run do not amount to a resurgence of the group.
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