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
In response to the demands of a 21st Century Mega City like Lagos and commitment towards efficient Land administration and management in the State,the Governor Akinwunmi Ambode led administration has initiated effective and dynamic reforms to reposition Land administration and procedure for the benefit of Lagosians.The Special Adviser to the Governor on Urban Development,Mrs Yetunde Onabule disclosed this at the ongoing 2017 Ministerial Press briefing held at the Bagauda Kaltho Press centre in commemoration of the 2nd year anniversary of Governor Akinwunmi Ambode in office.Reiterating the importance of Land to everyone and the need to continuously ease the process of Land Administration for better service delivery,the Special Adviser said it becomes expedient to harness the Land Resources for the good of the State and ultimately the benefit of the people,adding that the Lands Bureau is the second highest revenue earner in the State with gross earnings of more than N20 Billion in the year under review.She maintained that the revenue performance for the year 2016 exceeded the Bureau's budget for the period by 45%,noting that this was due to transactions on the sales of land for industrial development.According to her,''we are optimistic that our policy to further upgrade our service delivery through better strategic procedures and smarter use of information technology will enhance our revenue performance and service delivery this year''.To better serve Lagosians,she revealed,the Governor has signed cumulatively,since inception of his administration,a total of 4,445 Electronic Certificate of Occupancy,as part of efforts to ease business transactions and investment.She stated further that the State is currently upgrading and redesigning the layout and business process within the Land Registry,in order to maintain the highest level of security and integrity of title documents.Onabule noted that the Land Registry in the State stands and ranks as the best in the country,especially in the discharge of its assigned duties and responsibilities,adding that this was made possible with the introduction of he Electronic Documentation and Survey Plans System {EDMS},which scans and archives Land Documents and Survey Plans into a searchable and interlinked data.
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