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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FG COMMITTED TO OPTIMAL OPERATIONS OF ONIGBOLO CEMENT AND SAVE SUGAR COMPANIES .(PHOTO).#PRESS RELEASE.

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FG COMMITTED TO OPTIMAL OPERATIONS OF ONIGBOLO CEMENT AND SAVE SUGAR COMPANIES .



The Honourable Minister of State for Industry, Trade and Investment, Amb. Mariam Yalwaji Katagum has said Nigerian government is committed to the progress and optimal operation of Onigbolo Cement and Save Sugar Companies for economic development between Nigeria and the Republic of Benin. 

The Minister made this known during the Ministerial Session and Signing of Resolutions and Communique of the 26th Ordinary Session of the Joint Supervisory Authority (JSA) on Onigbolo Cement and Save Sugar Companies between the Federal Republic of Nigeria and Republic of Benin held in Abuja.

Amb. Katagum reiterated the commitment and friendship of the Nigerian Government to not only the Government of Benin and her people, but to also the progress and optimal operation of the two enterprises.

Amb. Katagum revealed that the enterprises have experienced mixed fortunes over the years, leading to the full privatisation of the two Government stakes in Onigbolo Cement Company.

She also said the lease agreement governing the management and operations of Save Sugar Company will expire in May 2023, stating that, it is expedient on the part of both governments to proactively design and develop concrete steps and actions that will enhance the fortunes of the enterprise post 2023. 

The Minister said, overtime both governments have embarked on preliminary assessment of the assets with a view to determining its future and the assessment exercise has revealed the need for detailed technical and financial evaluation of the enterprise.

Amb. Katagum said that Nigeria and Republic of Benin should be seen to promote and deepen economic diplomacy and political integration between the two countries, especially among the people. 

"In that regard, the Federal Ministry of Industry, Trade and Investment has been directed by His Excellency, President Muhammad Buhari, GCFR to ensure that the Nigerian Government maintains interest in Save Sugar Company while at the same time encourage private investments into the enterprise. This is to guarantee infusion of financial resources and repositioning of the enterprise for better performance" the Minister stated.

She also emphasized that the representatives of Governments should re-double efforts to guarantee delivery of the objectives and desires of their respective Governments ,stating that, this would further magnify and sustain the aspiration of the founding fathers.

Amb. Katagum thanked the Honourable Minister of Industry and Commerce, Republic of Benin, H.E. Alimatou Shadiya Assouman who led the delegation, for making out time to attend the 26th session of the JSA on Onigbolo Cement and Save Sugar Companies in Abuja. 

She also appreciated the Nigerian Ambassador to Republic of Benin, General Tukur Buratai for his commitment to the progress of the enterprise.

The Honourable Minister of Industry and Commerce, Republic of Benin, H.E. Alimatou Shadiya Assouman in her closing remarks acknowledged the good will of President Mohammadu Buhari in strengthening the bilateral relationship between Nigeria and Republic of Benin and also the work well done by the Honourable Minister of State for Industry, Trade and Investment, Amb. Katagum and her technical team.

She also expressed gratitude to the Honourable Minister of State for Industry, Trade and Investment, Amb. Katagum and the Nigerian Ambassador to Republic of Benin, Lt Gen. Amb. Tukur Buratai for the warm reception given to her and her team 

Oluwakemi Ogunmakinwa Mrs 
Assistant Director Information.

Nigerian Minister of State for Industry Trade and Investment, Amb. Mariam Yalwaji Katagum flanked to the left by the Hon. Minister of Industry and Commerce, Republic of Benin, H.E Alimatou Shadiya Assouman; 2nd left is the Director of Industrial Development Department in the Ministry, Mr. Adewale Bakare; 1st left is the Director of Industry, Republic of Benin, Mr Santos Elie and to the right is Ambassador of Nigeria to the Republic of Benin, Lt. Gen. Amb. Tukur Yusuf Burutai (Rtd) during the Ministerial Session and Signing of Resolutions and Communique of the 26th Ordinary Session of the Joint Supervisory Authority on Onigbolo cement and Save Sugar Companies in Abuja.

 

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