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
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AMOSUN PAYS N4.5BN COOPERATIVE DEDUCTIONS ARREARS TO WORKERS IN OGUN STATE.

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Image may contain: 2 people              Ogun State Governor, Senator Ibikunle Amosun, has approved the total sum of N4.5 billion for the payment of cooperative deductions arrears to all categories of workers in the state.
This was disclosed on Tuesday in Abeokuta by the Honourable Commissioner for Finance, Mr. Wale Oshinowo.
Giving a breakdown of the payments, Oshinowo said N3.4 billion has been disbursed for the payment of six months arrears of outstanding cooperative deductions to all categories of the workforce at the state level.
Another N1.1 billion was disbursed for the payment of three months of outstanding cooperative deductions to workers at the Local Government level.
He said another sum of N1.2 billion would be expended on state expenditure.
Explaining the source of the fund, the Finance Commissioner said, it came from the N5.7 billion Ogun State government received from the Paris Club refund, which the Federal Government recently shared to different states of the Federation.
He explained that whereas the Federal Government advised state governments to use only 50 per cent of the fund for payment of workers’ emolument, Governor Amosun has decided to apportion 79 percent on the workforce because of the love he has for the workers.
“Ogun State is apportioning 79 percent to staff welfare and only 21 percent on state expenditure, aside the fact that the state government, in its usual practice, has paid June 2017 salary to all categories of workers at both the state and local government levels”, Oshinowo added.
He therefore thanked the entire civil servants in the state for their cooperation and understanding while affirming that “the state government is ready to offset all outstanding staff related expenses, as soon as more funds are available."
The Commissioner added that government would continue to do all within its power to cater for the civil and public servants in Ogun State.
Mr. Wale Oshinowo
Honourable Commissioner,
Ministry of Finance,
Abeokuta, Ogun State
Tuesday, July 18, 2017.
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