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 AGREE ON TWO WEEKS TO RESOLVE LABOUR ISSUES. (PHOTO).

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FG, TUC agree on two weeks to resolve labour issues

The Federal Government and Trade Union Congress of Nigeria (TUC) have agreed to give the government two weeks to address some of the grievances of the Congress.

This was disclosed by the Minister of Labour and Employment, Solomon Lalong, in Abuja at the end of a meeting with the leadership of Trade Union Congress, led by its President, Comrade Festus Osifo.

A statement issued by the Director, Press and Public Relations, the Ministry of Information and National Orientation, Olajide Oshundun, on Tuesday, said, “The meeting was convened by the Minister to resolve TUC’s and Nigeria Labour Congress’ differences with government and to avert the pending warning strike by organised labour.

“According to Lalong, the issues for which a two-week timeline was set for their resolution include wage award for federal civil servants to cushion the effect of rising poverty among them, and tax exemption for a certain level of workers, both in the public and private sectors.

“The other issues on the two-week timeline are to put structures in place to ensure effective implementation of the palliatives declared by the Federal Government for the states and the FCT, and to set out the modalities for accessing the N70 billion proposed for the funding of the Micro, Small and Medium Enterprises (MSME), among others.

“The Minister declared that after the two weeks, the meeting would reconvene for further discussions, and added that the parties understood that some of the issues were urgent, while some would require a long span of time to resolve.

 

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