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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LAGOS PAYS OVER N6M TO DISPLACED FAMILIES AT ADENIJI ADELE PHASE 1 ESTATE.

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        The Lagos State Government has paid N6.6 million to the 12 families who were displaced due to the ongoing redevelopment project of Adeniji Adele Phase 1 Housing Estate on the Lagos Island as rent for the Year 2017/2018.
Speaking at the payment ceremony, Mr. Lateef Sholebo, General Manager of Lagos Urban Renewal Agency, LASURA, said the 12 families who received the payment were among the 30 families living in the Estate before the demolition for redevelopment.
He said the Lagos State Government had first paid an initial N18m as rent for the 12 families in 2014, adding that the recent payment of N6.6m is for the Year 2017/18 with each family collecting N550,000 as against N500,00 previously collected due to increase in rent.
According to him, “The government was in negotiation with the families before the buildings were demolished. The families were given two options of resettlement. Either they move to the Agency’s Transit Camp within Iba Housing Estate or get paid to secure a convenient accommodation in a location of their choice pending the completion of the project”.
“18 families opted for the choice of resettlement at LASURA's Transit Camp while the remaining 12 families chose to receive N500,000 to rent an apartment of their choice in a preferred location”, he added.
Sholebo maintained that the State government had to demolish the buildings in order to prevent imminent collapse and also upgrade the Estate in line with the megacity status of Lagos state.The Acting Chairman of Adeniji Adele Housing Estate Residents’ Association, Elder Semi Adeotan who spoke on behalf of the families and entire residents thanked Lagos State Government for the payment and proactive measures taken to prevent the loss of lives.
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