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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'KIDNAPPERS ARE ON BREAK,BANDITS ON HOLIDAY ',NGIGE LSUDS NAIRA REDESIGN. (PHOTO).

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 ‘Kidnappers are on break, bandits on holiday’, Ngige lauds naira redesign 


30 March 2023 

 

The Minister of Labour and Employment, Chris Ngige says the naira redesign policy of the Central Bank of Nigeria (CBN) achieved some “sound benefits” as it curbed insecurity and vote buying during the 2023 general elections.


The minister, who spoke on Wednesday during Channels Television’s Politics Today programme, however, admitted that the implementation of the policy was not smooth.


Ngige said, “The policy is not smooth in its implementation. I admitted that. But whether it is a good policy? Yes, it is a good policy.


“It wasn’t smooth; it came with some pain but overall, did we get some sound benefits from it? Yes, we did: people didn’t buy votes on the line (queue) during the elections.


“I used to go for elections and I know what I see. There was no cash exchange for votes. It wasn’t easy anymore. Kidnappers are on break, they are strike so to say or recess. Bandits, they have also gone on holidays," he added.


On the shelved strike by the Nigeria Labour Congress (NLC), the minister said the apex bank has released cash into the society and that the pain experienced by Nigerians will ease off in the days to come.  (Channels TV)

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