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

WE’LL ENSURE FREE, FAIR ELECTIONS IN 2023, TRANSFER OF POWER TO WINNERS -- PRESIDENT BUHARI.{PHOTO}.#PRESS RELEASE.

WE’LL ENSURE FREE, FAIR ELECTIONS IN 2023, TRANSFER OF POWER TO WINNERS -- PRESIDENT BUHARI

 

President Muhammadu Buhari has assured Nigerians and the international community of free and fair elections in 2023 general elections, and peaceful transfer of power.

In his remark at a Virtual Summit for Democracy organized by President Joe Biden of the United States, President Buhari said necessary mechanisms will be strengthened to ensure that Nigeria witnesses another peaceful transfer of power.

“As we countdown to our next general elections in 2023, we remain committed to putting in place and strengthening all necessary mechanisms to ensure that Nigeria will not only record another peaceful transfer of power to an elected democratic government, but will also ensure that the elections are conducted in a free, fair and transparent manner.

“Your Excellencies, Nigeria will continue to actively support the democratization processes in our region West Africa and the African continent at large.  But regrettably, our democratic gains of the past decades are under threats of unconstitutional takeover of power.

“This unwholesome trend, sometimes in reaction to unilateral amendments of constitutions by some leaders, must not be tolerated by the international community. Nigeria fully supports the efforts by ECOWAS to address this growing challenge and appreciates the support of both the African Union and the United Nations,’’ he added.

The President said Nigeria continues to face security challenges which pose a threat to democracy, calling “on global partners to support our efforts in tackling insurgency and terrorism.’’

“I am proud to state that Nigeria has had over two decades of uninterrupted democratic governance and has unequivocally remained committed to upholding the core values and principles of democracy.

“Since assuming office in 2015, we have been able to introduce mechanisms to ensure free, fair and credible elections. We have strengthened our key anti-corruption agencies in collaboration with international partners and have undertaken several anti-corruption measures and initiatives.”

President Buhari thanked President Joe Biden, government and people of the United States for hosting the Summit.

"As you are aware, democracy has remained the most popular and universally recognised way of governance thus far. It is one governance system that guarantees freedom of speech, rule of law, respect for human rights and inclusiveness in governance. It also promotes social justice, economic and social development and national and global peace.

“However, in spite of these laudable qualities, more is required from us as members of democratic societies, particularly in ensuring that democratic institutions and processes are strengthened, particularly during this period of a global pandemic which has threatened social cohesion in most democracies.

“We, therefore, must remain resolute and enhance cooperation, so that together, we build back better democratic institutions and sustainable democratic values,’’ the President added.

President Buhari noted that the Summit was taking place at a time when democratic institutions around the world were facing several challenges.

“This event will help promote a positive agenda for democratic renewal by focusing on some of the major challenges faced by democracies today. It is hoped that through our collective action, we can safeguard democratic values and principles,’’ he said.

The President said the devastating impact of the Covid-19 pandemic, which had made it impossible to convene the meeting face to face, had taken a heavy toll on economies, health and democratic processes around the world.

“Nevertheless, we have witnessed the resilience of democratic institutions in many countries that have held free, fair and transparent democratic elections under very challenging conditions.’’

 

 Femi Adesina

Special Adviser to the President

(Media & Publicity)

December 10, 2021

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