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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RAIL MASS TRANSIT: LASG EXTENDS TRAFFIC DIVERSION AT MURITALA MOHAMMED WAY/YABA AXIS.(PHOTO).#PRESS RELEASE.

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RAIL MASS TRANSIT: LASG EXTENDS TRAFFIC DIVERSION AT MURITALA MOHAMMED WAY/YABA AXIS


In continuation of the construction of the first phase of the Lagos Rail Mass Transit project, the Lagos State Government has extended the traffic diversion already in place at Muritala Mohammed Way from the previously extended completion date of 31st December, 2022 to 28th February, 2023.

A statement signed by the Commissioner for Transportation, Dr. Frederic Oladeinde explained that the extension was needed to enable the contractor to complete the construction of the ramp.

Highlighting the diversion plan, Oladeinde restated that traffic on Muritala Mohammed way will be diverted to Ojuelegba-Tejuosho slip road to link Muritala Mohammed Way, while traffic circulating Western Avenue, Yaba and Herbert Macaulay will be diverted to Empire road to access Muritala Mohammed and Western Avenue for a continued journey as stated previously in the past traffic diversion notices.

The Commissioner assured that the construction site would be cordoned off for the safety of the citizenry, adding that emergency vehicles will beavailable to tow faulty vehicles along the axis. He also stated that signages will be placed on the access roads while personnel of the State’s Traffic Management Authority would be deployed to manage traffic flow and minimise inconveniences to road users.

He reiterated the commitment of the State Government to the development of transport infrastructure within the metropolis, maintaining that it is vital for the Multi-Modal Transportation System of the State Government which will boost the citizens' economic activities.


 

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