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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LRMT RED LINE PROJECT: LASG ANNOUNCES EXTENSION OF TRAFFIC DIVERSION AT MURITALA MOHAMMED WAY.(PHOTO).#PRESS RELEASE.

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LRMT RED LINE PROJECT: LASG ANNOUNCES EXTENSION OF TRAFFIC DIVERSION AT MURITALA MOHAMMED WAY


In furtherance of the ongoing Phase I of the Lagos Rail Mass Transit project, the Lagos State Government has announced the extension of traffic diversion on Muritala Mohammed Way from Wednesday, 1st June 2022 to 30th September, 2022.

A statement signed by the Commissioner for Transportation, Dr. Frederic Oladeinde, said there will be total lane closure to allow the contractor work without any inhibition during the construction, adding that the traffic on Muritala Mohammed Way will, therefore, be diverted to Ojuelegba-Tejuoso slip road in order to link Murtala Muhammed Way.

The Commissioner assured that the site will be cordoned off for the safety of citizens, stressing that emergency vehicles will be provided to tow broken-down vehicles along the axis.

He also stated that signage will be placed on the access roads while officers of the Lagos State Traffic Management Authority (LASTMA) are stationed in the area to control movement and minimise inconveniences to road users.

Dr. Oladeinde reiterated the State Government’s continuous commitment to the development of transport infrastructure within the metropolis, maintaining that the project is vital to the multi-modal transportation system designed by the present administration to enhance the socio-economic development of Lagos State.


 

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