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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NLC SUSPENDS PLANNED NATIONWIDE STRIKE OVER NAIRA SCARCITY.(PHOTO).

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NLC suspends planned nationwide strike over naira scarcity

MARCH 28, 2023 

The Nigeria Labour Congress (NLC) has suspended their planned nationwide strike over the scarcity of naira notes.

The labour union announced the development at the end of its national executive council meeting on Tuesday.

The NLC had earlier disclosed that it would begin an indefinite industrial strike from Wednesday, March 29, 2023, adding that it would picket branches of the Central Bank of Nigeria (CBN) across the country.

Speaking on the development, Joe Ajaero, the NLC president, said the union decided to put the strike action on hold after receiving briefings from its state councils in the 36 states and the federal capital territory (FCT).

He said the NLC would resume the planned protest if naira notes remain unavailable to Nigerians by the end of two weeks.

TheCable had earlier reported that Chris Ngige, minister of labour and employment, said the federal government had started a conciliatory move with the NLC over the union’s threat to embark on an industrial strike.

The minister assured that the government had “apprehended” the situation after inviting  the NLC leadership and the CBN to a meeting.

“Members of the council reside in the states and in the local governments so they will come up today, which is Tuesday, the 28th, to review the situation because much as it is, the important thing is that we have emphasised to them that we have apprehended this dispute,” Ngige had said.

“By section 7:8 of trade dispute act, once the minister apprehends and starts conciliation on it, you maintain status quo ante bellum. So they have gone back now to review the situation.

“If they’re not satisfied with what they see, they will come back to me and I will invite the CBN again.”


 

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