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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FUEL SUBSIDY INTERESTS FIGHTING US- SHETTIMA. (PHOTO).

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Fuel subsidy interests fighting us – Shettima


The Vice President, Sen. Kashim Shettima has raised an alarm that those who lost out as a result of the removal of subsidy are determined to frustrate government policies and programmes.


He made the accusations in Abuja at the 16th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN).


Sen. Shettima said the Bola Ahmed Tinubu administration remains committed to its decisions, policies and programmes and vowed that the removal of subsidy is irrevocable.


Addressing the audience, Vice President Shettima stated that “we know the consequences of unveiling a masquerade. We know the fuel scam industry is a very hugely loaded industry, they will make every efforts to undermine us but as I said earlier the removal of fuel subsidy is irrevocable; truly we are in dire straits”.


Speaking on the consequences of recent government policies and programmes especially the removal of subsidy, Sen. Shettima said “I must announce with pride that our decisions are already yielding tangible results, with both state and federal governments now enjoying more substantial allocations.”


“These funds promise a direct and positive impact on the lives of our citizens. Without the serially unaccounted fuel subsidies, we can now redirect our savings towards more deserving causes”.


He however, called on the banking community to join the government in rejuvenating the economy.


“We must now do what pessimists may regard as impossible: turning the economy around in record time. We seek your partnership in getting this done. We cannot take your support for granted.”


“This journey towards economic rejuvenation is not one to be undertaken in isolation. It is a call to forge robust partnerships with strategic nations and multilateral organizations, for in unity, Nigeria can reposition itself as a formidable, globally competitive partner.”


On the ‘Eight-Point Agenda’ of the Tinubu Administration, Shettima said “we have resolved to prioritise food security and ending poverty. We are prioritising economic growth and job creation. We are prioritising access to capital and improving security.

 

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