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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RE: LASG TO REGULATE ACTIVITIES OF MAJOR AND INDEPENDENT PETROLEUM MARKETERS.(PHOTO).#PRESS RELEASE.

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RE: LASG TO REGULATE ACTIVITIES OF MAJOR AND INDEPENDENT PETROLEUM MARKETERS


The Lagos State Government has noticed the reactions generated by its directive to major and independent petroleum marketers operating on major roads. The measure is to stop the traffic congestion that has resulted from their activities; it is not to compound the hardship motorists and commuters have experienced because of the lingering fuel shortage.

Following assurances from some of the offending filling stations, the 9 am to 4 pm restriction will no longer be enforced.

For the avoidance of doubt, filling stations are not restricted from doing their business, but fuel marketers have a responsibility to ensure that their activities do not cause any disruption whatsoever to traffic flow. It is against the law to impede the free flow of traffic on our roads.

Traffic Management Agencies have been directed to invoke the law should any marketer be found to have allowed queues on its premises to spill onto major roads in a disorderly manner that impedes traffic flow.

Signed

Dr. Frederic Oladeinde

Commissioner for Transportation, Lagos State.

20th January, 2023


 

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