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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RENOVATION OF NATIONAL ASSEMBLY COST N30BN-MINISTER.(PHOTO).

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Renovation Of National Assembly Cost N30bn - Minister 

The Federal Capital Territory Administration would spend N30.222 billion in the ongoing rehabilitation of the National Assembly Complex, the Minister, Malam Musa Bello had said.
 
Bello disclosed this on Thursday when the Senate Committee on FCT carried out an oversight visit to various project sites being constructed by the Federal Capital Territory Administration (FCDA) in Abuja, according to Daily Post.

He disclosed that the cost of approval of the rehabilitation work by President Muhammadu Buhari was N37 billion, which was included in the 2020 budget of the Federal Capital Development Administration.
 
He, however, explained that the cost was reviewed downward to N9.25 billion in the revised 2020 budget to enable the FCDA to pay contractors, leaving a balance of N21.025 billion.
 
Bello stated that the total cost of rehabilitation work which stood at N30,229, 290,830.35 billion was not part of the National Assembly’s annual budget of N128 billion as some people had claimed.
 
He also that the contract, which was awarded on December 30, 2021, has a completion period of two years.


 

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