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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UMAR FAROUQ WANTS EXPEDITED ACTION ON PASSAGE OF NSIP OFFICE ESTABLISHMENT BILL.{PHOTO}.#PRESS RELEASE

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The Minister of Humanitarian Affairs, Disaster Management and Social Development Sadiya Umar Farouq has called on the House Committee on Poverty Alleviation to expedite action on the passage of the National Social Investment Office Establishment Bill.
The Minister made the call on Tuesday in Abuja when members of the House Committee on poverty Alleviation paid a visit to the ministry.
In her remarks, Umar Farouq said that the passage of the bill into law will enable the effective management of the various programmes under it.
“The NSIP has huge poverty reduction potentials and the expansion of the programme will contribute significantly to the realization of the National aspiration of lifting 100 million Nigerians out of poverty by 2030, consistent with the Sustainable Development Goals.
“The passage of the National Social Investment Office Establishment Bill into law will enable effective management of the programme, enhance its impact and ensure its sustainability, hence the need for expedited action”.
The minister thanked the Chairman of the committee and other honorable members for their cooperation and support to the ministry while hoping for stronger ties that will enable the expansion and improvement of NSIP.
In her presentation, Umar Farouq however noted that the early utilization of capital releases was affected by the Covid-19 pandemic hence a greater percentage of the utilization was done after the return of mopped up funds in March and April. She also told the House Committee members that the approved recurrent expenditure of NSIP in the 2020 Budget was reduced by 31.6% as a result of several factors including the Covid-19 pandemic while the Ministry is yet to receive any release for the implementation of the Covid-19 Cash Transfer.
“Mr President has graciously approved the expansion of the NSIP and directed the Federal Ministry of Finance, Budget and National Planning to make adequate provision for the expansion of the programme.

“The approval is for the expansion of N-Power beneficiaries from four hundred and fifty thousand to one million beneficiaries, disbursement of GEEP loans to additional one million beneficiaries, expansion of the National Home Grown School Feeding Programme to target an additional five million children in conventional and non-
conventional schools under the Alternate School Programme and
the expansion of the Conditional Cash Transfer to include an additional one million rural poor”.
Earlier, the Chairman of the Committee Hon. Abdullahi Balarabe Salame said that the visit of the House Committee on Poverty Alleviation was to evaluate the ministry’s budget performance last year and in the first quarter of this year.
“Our visit is to ensure the monitoring and evaluation of the year 2020 and the first quarter of the 2021 budget implementation. We are here to see how you implemented the 2020 budget and how far you have gone in the 2021 budget. This is to ensure that details are provided for us in accordance with the Appropriation Act”.
The Ministry of Humanitarian Affairs, Disaster Management and Social Management has five agencies and two programme offices under its supervision including the National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRMI), National Emergency Management Agency (NEMA), National Agency for the Prohibition of Trafficking in Persons (NAPTIP), North East Development Commission and the National Commission for Persons with Disability while the programme offices are National Social Investment Programme (NSIP) and Office of the Senior Special Assistant to the President on Sustainable Development Goals (OSSAP-SDGs).
NSIP is Federal Government’s flagship programme implemented to advance its social inclusion and poverty reduction agenda.
NNEKA IKEM ANIBEZE
SA MEDIA
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