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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WHAT NEC DISCUSSED REGARDING DISCOS-LAOLU AKANDE.{PHOTO}.#PRESS RELEASE.

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No photo description available.
    OFFICE OF THE VICE PRESIDENT
PRESS STATEMENT
We have read some misleading media reports regarding the deliberations of the National Economic Council on the issue of the ownership of electricity Distribution Companies, DisCos, at its meeting yesterday. Some of the erroneous reports was a headline that said: “FG May Take Over DisCos.”

For the purposes of clarity and accurate records, the ONLY issue which came up for discussions at NEC yesterday was about the quantum of State governments’ interests, if any, in the 40% shares retained by the Nigerian Government in each of the DisCos at the point of privatization. A Committee was then constituted to review historical records and advise the Council accordingly.
Laolu Akande
Senior Special Assistant to the President on Media and Publicity
Office of the Vice President
22nd November 2019
No photo description available.

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