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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NIGERIANS DON'T OBEY ROAD REGULATIONS-FASHOLA.

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     Minister of Power, Works and Housing, Mr. Babatunde Fashola, has berated Nigerians on road use. According to him, Nigeria roads became death traps because road regulations were not obeyed. The Minister, who spoke at a one-day public enlightenment on developments in the road sector, said that what would make a nation to be prosperous, was compliance on-laws and regulations. He stated that road construction were all over the country, adding that the usage of those road would determine how long they would last.Emphasizing on none adherence to road regulations, he said “all over the world, one common thread of prosperous societies is their level of compliance with laws and regulations. “So, in those societies, you will see trucks parked in proper parks, which creates jobs, and not on the highways, which impede access and opportunity.“In those societies, you will see trucks carrying specified tonnage of cargo because it protects the road, and allows for it to be used again and again.”Therefore, while the temptation to overload and carry more with one truck, against regulation and good practice may be appealing, it is ultimately a barrier to prosperity. “Such practices may provide cheap and perhaps corrupt riches and income, but they do more damage to the roads from which the cheap income is made.
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