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Showing posts from May 10, 2017

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

LAGOS SPEAKER LAMENTS ABSENCE OF TEACHERS AT THE PUBLIC HEARING ON YORUBA LANGUAGE TODAY.{{PHOTOS}.

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                                 The Speaker of the Lagos State House of Assembly,Rt.Hon. Mudashiru Obasa today wednesday berated the low turn out of teachers in public schools during the Public Hearing of a proposed laww t make the teaching and speaking of  Yoruba Language compulsory in all the schools in the State.The Bill entitled,''The Promotion and Preservation of the Use of Yoruba Language in Lagos State and the Connected Purpose''.The Bill was in continuation of the Yoruba Summit Day organised by the House in 2016 as part of measures to promote and preserve the language and its accompanied customs and traditions.Obasa who made this remark while delivering his keynote address at the Lateef Jakande Auditorium in the Assembly premises,stated that it was disheartening that many public schools in the State were lackadaissical to a programme geared towards protecting the native language from going into extinction.''We have a lot of public sschools in Lagos Stat

MAGU,SOYINKA JOIN FORCES IN THE FIGHT AGAINST CORRUPTION TODAY DURING A ART EXHIBITION FOR YOUTHS.{PHOTOS}.

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                Nobel Laureate,Professor Wole Soyinka and the Acting Chairman Economic and Financial Crimes Commission,Ibrahim Magu has identified Child Creativity as an essential tool in the fight against corruption.The duo acknowledged that children demonstrate acute awareness of what goes on around them as depicted in paintings and literary works dissplayed during the opening of ''A Thousand and One Faces of Corruption' Exhibition,themed 'Enhance the Heritage,Advance the Future' which held penultimate Saturday at the Freedom Park,Lagos Island.The Art Exhibition is the 2017 Vision of The Child {VOTC} project,occasioned as part of activities marking the 'Lagos at 50 celebration''.The Nobel Laureate wondered at the ignorance of those who believe that children challenge their creativity early in life and provide an outlet for those observations and feelings for which they sometimes seek the means of expression.In his remarks,Magu who declared the occasion

EX NNPC BOSS ''YAKUBU'' LOSES BID TO UPTURN FORFEITURE OF $9.8M DISCOVERED IN HIS HOUSE IN KADUNA.[PHOTOS]

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                                    Justice Z.B Abubakar of the Federal High Court Kano today May 10,2017 dismissedan application brought before her by Former Group Managing Director of NNPC,Engineer Andrew Yakubu seeking for an order setting aside the interim forfeiture order of the 13th February 2017 made by the same court in respect of the Sums of $9,772,000 {Nine Million,Seven Hundred and Seventy Two Thousand United States Dollars} and another sum 74,000 pounds {Seventy Four Thousand Pound Sterling} found in the house of the former NNPC boss in Kaduna.The application was brought on groundss that the court lacks jurisdiction to entertain the matter and that the Federal Government lacks the competency or locus standi to seek for the interim forfeiture order.Also,the respondent applicant,argued that the court only empowered grant such an order in offences allegedly committed under the EFCC Act.The application further stated that the Federal Government in its application for the order

EX-FCT MINISTER,BALA MOHAMMED DOCKED,REMANDED IN PRISON OVER ALLEGED N864M FRAUD TODAY.{PHOTOS}.

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                The Economic and Financial Crimes Commission,EFCC,today wednesday,May 10,2017,arraigned a former Minister of the Federal Capital Territory,Bala A Mohammed before Justice A.M. Talba of the Federal Capital Territory,High Court sitting in Gudu,Abuja,on a 6-count charge bordering on abuse of office,false declaration of assets and fraud to the tune of N864million.Bala,while in office as minister,allegedly received N550million as bribe from the Aso Savings and Loans Limited with respect to some properties in the Asokoro area of Abuja.He is said to have corruptly abused his position as Board Chairman of Aso Savings by allocating four numbers fully detached duplexes and 11 numbers semi-detached duplexes valued at N314million through the Presidential Taskforce on Sale of Governments Houses,to himself.The former minister is also accused of making false declaration of his assets./in view of his plea,Ben Ikani,counsel to EFCC,asked the court to fix a date for trial and remand the d

GENEVIEVE NNAJI SHARED A SELFIE TODAY OF HERSELF,NKEM OWOH & OTHERS ON THE SET OF A NEW MOVIE IN ENUGU.{PHOTOS}.

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                         In a new Selfie Nollywood actress Genevieve Nnaji just shared one hour ago on the set of a movie in which Nkem Owoh and other cast/crew members threw in their heads to enjoy the spotlight.Genevieve captioned the photo below and above ''My Clyde.It's been an honor to have gone on this journey with you.May God keep you safe and in good health.#NkemOwoh #YinkaEdwards #lionheartthemovie @lionheartthemovie.Thank yoy all for your love and support #itawrap @Enugu,Nigeria.One more photo below.

THE SENATE PASSED THE ''SECURED TRANSACTION IN MOVABLE ASSETS BILL & THE CREDIT BUREAU SERVICES BILL'' YESTERDAY.{PHOTO}.

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                    Yesterday tuesday,the Senate President Bukola Saraki announced that they passed the Secured Transaction in Movable Assets Bill and the Credit Bureau Services Bill.These two Bills are a part of the Senate's Ease of Doing Business Legislation that are aimed at making the local regulatory environment more conducive to starting and operating businesses.Under the Secured Transaction in Movable Assets Bill,we can close the gap on access to credit financing for SME's by allowing the use of movable assets as collateral when acquiring loans.Up until now,only fixed assets like land and infrastructure were accepted.Additionally,the Secured Transaction Bill strengthens the financial inclusion of SME's,stimulates responsible lending to micro,small and medium enterprises and establishes a Collateral Registry for its operations.