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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CRIMINALS DESTROYED 158 SUB-STATIONS,WE LOST N386M TO VANDALISM IN SIX MONTHS- KADUNA ELECTRICITY DISTRIBUTION COMPANY.(PHOTO).

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Criminals Destroyed 158 Sub-stations, We Lost N386m To Vandalism In Six Months

The Management of Kaduna Electricity Distribution Company says between January and June, 2022,158 distribution sub-stations were vandalized across the four franchise states of the company.

The Chief Engineering and Technical Services Officer of the Company, Bello Musa, in a statement lamented the rising cases of vandalism of power supply infrastructure, saying that it is taking a serious toll on the company’s operations.

He said KEDC lost N238,701,800:65 (two hundred and thirty-eight million, seven hundred and one thousand, eight hundred naira, sixty-five Kobo) worth of equipment.

He added that it also lost N147,953,449:01(one hundred and forty-seven million, nine hundred and fifty-three thousand, four hundred and forty-nine naira, one Kobo) in expected revenue during the period under review.

The officer stated that some of the prolonged outages and service disruption suffered by the customers are a result of vandalism and theft of power supply assets by selfish and criminal elements in the society.

He explained, “The destruction of critical national assets like power supply infrastructure by a few unpatriotic elements is a despicable act of sabotage, a mindless criminality and the pinnacle of irresponsibility which we must collectively fight as a society.”

Musa lamented the vandalism of power supply assets while describing it as a “despicable act of sabotage and heinous crime against the society”.

He explained that of the 158 vandalised distribution sub-stations, 54 had been repaired and supply restored to the affected customers while efforts are being made to bring the remaining to back to service.

He enjoined the security agencies and other prosecuting authorities to ensure the full wrath of the law is brought against the perpetrators of the crime no matter who they are in society.

He suggested more vigilance by communities and neighbouring vigilante groups towards arresting the ugly situation.


 

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