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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GOV. FUBARA SIGNS SUPPLEMENTARY BUDGET TO FINANCE PH RING ROAD.(PHOTOS).#PRESS RELEASE

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 GOV. FUBARA SIGNS SUPPLEMENTARY BUDGET TO FINANCE PH RING ROAD



...seeks support of other arms of government to succeed.


His Excellency, Governor Siminalayi Fubara of Rivers State has signed the supplementary budget of N200billion recently passed by the Rivers State House of Assembly. Stating that his administration is poised to begin construction work on the proposed Port Harcourt Ring Road and that the project will connect communities across several local government areas.


Speaking after signing into law the Rivers State Supplementary Appropriation Law No. 4 of 2023, presented to him by the Leader of the House, Hon. Edison Ehie, at the Executive Chamber of Government House on Friday, Governor Fubara restated his resolve to actualize projects and ideas bequeathed to him by the previous administration, which will improve the lives of Rivers people.


He said "Let me on behalf of the Executive arm of government commend you for your prompt response to the Supplementary Budget. We are a product of consolidation and continuity, we will implement every good idea by the previous administration geared towards improving the lives of Rivers people."


The governor noted that as a government run by seasoned administrators who are dedicated to advancing the fortunes of the State with a high standard set above personal levels of comfort, it is essential that other arms of government key into the structure so that together, we will prove critics wrong while delivering services and projects that will better Rivers State and its people.


Sir Fubara, who announced that he will soon sign the contract papers and eventually flag off the 50.15 Kilometers Port Harcourt Ring Road as a legacy project, assured that his administration will continue to do the right thing within the New Rivers Vision.


In presenting the law, Leader of the House, Hon. Edision Ehie explained that the principal law - 2023 Budget, was altered by injecting a subhead that is dedicated to addressing the multifaceted Port Harcourt Ring Road project that will unveil the socio-economic potentials of the state and put it on a competitive status in Africa.


In his remark, Speaker of the House, Rt. Hon. Martin Amaewhule said lawmakers have watched with admiration the impressive performance of the administration of Sir Siminalayi Fubara and assured that the legislature will continue to offer requisite support to achieve success.


With the additional N200bn Supplementary Budget to the initial N550bn Budget, the total Rivers State budget for the 2023 fiscal year is now N750bn, placing Rivers State second to Lagos State.


Signed


Boniface Onyedi


SSA on Media to the Governor of Rivers State


July 7, 2023.

More photos below. 




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