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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FG WILL OBEY SUPREME COURT RULING AGAINST BANNING OLD NAIRA NOTES, MOVES TO VACATE ORDER- MALAMI. (PHOTO).

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 FG Will Obey S’Court Ruling against  Banning Old Naira Notes, Moves to Vacate Order - Malami


Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami, yesterday said while the federal government would obey the Supreme Court ruling, which put on hold the Central Bank of Nigeria (CBN) demonetisation policy, the government would take necessary steps to set aside the interim order.


The Supreme Court had in a ruling on Wednesday suspended the CBN deadline for demonetisation policy and fixed February 15 for hearing on the matter.Malami clarified that the federal government, out of its regard for the rule of law, would abide by the order of the apex court, even though it intended to challenge it and would do so within the provisions of the law.


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