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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FUEL SCARCITY: LASTMA CAUTIONS MOTORISTS AGAINST TRAFFIC GRIDLOCK.(PHOTO).#PRESS RELEASE.

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FUEL SCARCITY: LASTMA CAUTIONS MOTORISTS AGAINST TRAFFIC GRIDLOCK


The Lagos State Traffic Management Authority (LASTMA) has cautioned motorists queuing up for fuel at different filling stations against causing traffic gridlock that could impede the movement of other road users.

The General Manager of LASTMA, Mr. Bolaji Oreagba gave the advice on Tuesday while deploying more officers of the Authority on traffic monitoring around filling stations across the State.

Oreagba disclosed that the deployment became imperative following reports of long queues around filling stations caused by motorists parking indiscriminately and blocking roads while queuing to buy fuel.

He expressed displeasure at the disorderly behaviour of some drivers, who queue up haphazardly and disrupt traffic flow around various petrol stations, imploring petrol marketers to ensure that their products are sold in an orderly manner that would not impede the free movement of other road users

"The scarcity of fuel being experienced is not an excuse to block and impede traffic flow across Lagos. We want our roads to be free. We do not want fuel queues to constitute a burden for other road users in Lagos", the General Manager stated.

While reiterating that efficient traffic management has remained crucial in the attainment of a seamless multi-modal transportation system in Lagos, he, however, sought cooperation from the motoring public to ensure that the T.H.E.M.E.S Agenda of the present administration yields positive results in terms of socio-economic development, as well as security of lives and property.


 

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