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,TUC BREAK DEADLOCK ON FUEL SUBSIDY, TO RECONVENE TUESDAY. (PHOTO).

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 FG, TUC break deadlock on fuel subsidy, to reconvene Tuesday* 

The Federal government and Trade Union Congress of Nigeria have made progress on the negotiations toward resolving dispute over the removal of fuel subsidy.

The Federal Government Team and that of TUC led by its President, Comrade Festus Osifo met on Sunday in a meeting that started about 4pm and ended around 7.30pm.

Addressing the State House Press Corps after the meeting on Sunday, Mr. Dele Alake who is part of the government negotiation team said much progress has been made in talks with TUC leaders.

He revealed that a major demand from TUC is wage increase for workers to accommodate the burden of rising cost of living the subsidy removal will bring noting that the Federal Government is not aversed to wage increase as President Bola Tinubu himself had hinted on wage increase during his meeting with governors of All Progressives Congress on Thursday.

The leadership of the Nigerian Labour Congress led by Joe Ajaero didn’t attend the Sunday meeting with government team that had Mr. Wale Edun, Olayemi Cardoso, Group Managing Director of NNPC, Mele Kyari, Central Bank Governor, Godwin Emefiele, labour leader and former Governor of Edo State, Adams Oshiomhole among others.

Mr. Alake said the meeting with TUC will resume on Tuesday after further consultations by both sides to firm up resolutions.

 

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