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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SAUDI ARABIA HAS BEEN KIND TO US, SAYS PRESIDENT BUHARI IN MEETING WITH SAUDI MINISTER.{PHOTO}.#PRESS RELEASE.

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President Muhammadu Buhari Tuesday played host to the Saudi Arabian Minister of Foreign Affairs at State House, Abuja, declaring that the oil rich kingdom has been quite kind to Nigeria. 

Receiving HRH Prince Faisal Bin Farhan Al-Saud, the President said with Nigeria’s large population and infrastructural deficit, the country needed all the revenue she could get from oil, a mainstay of the economy, “and Saudi Arabia has been very kind to us, making sacrifice by reducing production to accommodate us a number of times.” 

President Buhari noted that the relationship between the two countries is very strong, “and dates back in time, both at the personal and national levels.” 

“It is long and steadfast,” the President added. 

Prince Al-Saud brought greetings from King Salman bin Abdulaziz Al-Saud, saying the Kingdom appreciates the relationship with Nigeria, “which dates back 61 years, and we want to strengthen it even further.” 

The two countries, he said, have good prospects both economically and politically, not just among the leaders, but also the people. 

“There’s still a lot we can do together,” the Prince submitted.

 

Femi Adesina

Special Adviser to the President

(Media and Publicity)

September 7, 2021

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