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

TINUBU'S SPOKESMAN WARNS MINISTERS.(PHOTO).


Tinubu’s Spokesman warns ministers

28th Aug 2023 

President Bola Tinubu spent the months since his victory at the February 25 election setting clear goals for each sector in the country and will not tolerate failure from either of his recently inaugurated ministers, presidential spokesman Ajuri Ngelale said Monday.

“The President has set the benchmarks,” the Senior Adviser to the President on Media and Publicity noted on Channels Television’s Sunrise Daily.

“The question now is about enforcements and the President has shown, as he did during his time in Lagos State as governor, that he is not someone that is afraid to fire anybody.

“He is not somebody that is afraid to levy quick sanctions to ensure that they get the results that he wants ’cause, ultimately, if this administration fails, they will not say a minister failed or a set of ministers failed. They will say President Bola Tinubu failed, and he will not accept failure.”

According to Ngelale, the President used the interim period between his emergence as the president-elect and his inauguration on May 29 to set up “a series of reform committees across all the sectors”.

“[Tinubu] basically looked at exactly what His Excellency, President Muhammadu Buhari has achieved and said, ‘This is what we want to do to build on all these achievements,” Ngelale explained.

“We’re going to effectively implement a plan within a certain amount of time based on time-based benchmarks that when a minister has come in, we would be able to measure their performance against.’

“Every minister coming in absolutely knows what they have to achieve within the time frame that’s been given to them by the President and that’s something in the history of Nigerian governance we’ve never seen before.” 

 

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