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

OVER 200 TRANSFORMERS VANDALISED IN ANAMBRA,SAYS EEDC OFFICIAL.{PHOTO}

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      No fewer than 200 transformers were vandalised by hoodlums between January and November in Anambra, an official of the Enugu Electricity Distribution Company (EEDC), has said.
Mr Samuel Onuoha, the Network Manager, EEDC, Awka, disclosed while addressing a group of protesters who stormed the EEDC office in Awka on Monday.
Onuoha, who noted the company had zero tolerance for vandalism of its installations, said 50 transformers were vandalised in Nnewi; 30 in Awka; over 100 in Onitsha and six in Ekwulobia districts within the period.
“There are different levels of vandalism; some go for oil and different types of cables and some remove the feeder pillar units, among others.
“The vandalism escalated in the Ember Months; we cannot continue to run business like that,” Onuoha stated, adding that six cases of vandalism were currently at different levels of prosecution in the state.
However, the network manager said the company had commenced replacement of vandalised facilities across the South-East geo-political zone, urging residents and community leaders to protect their transformers.
He also urged them to report cases of vandalism to the office or the nearest police station.
“What we do in EEDC is also a business that involves buying and selling; so anything affecting our inability to distribute electricity is also affecting our income,” he stressed.
Onuoha assured the protesters that the company would fix their vandalised transformer by Wednesday.
He appealed to them to show understanding, noting that the company was collaborating with security agencies and community leaders to minimise vandalism of its installations.
Earlier, residents of Odeagba and Arthur Eze Street business owners took to the streets and later disrupted business activities at EEDC office for two hours to demonstrate power outage for 14 months.
Mr Amaechi Okeke, Chairman Arthur Eze Business Association, who led the protest, said since October 2016 when the Arthur Eze one sub-station/transformer was vandalised, the area had been without power supply.“Despite several appeals to EEDC, we have been left in darkness for long and this has affected us tremendously since then,” Okeke said.
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