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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NUEE GIVES MINISTER, ADELABU ADEBAYO, 2 WEEKS TO ISSUE PREPAID METERS.(PHOTO).

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NUEE Gives Minister, Adelabu Adebayo, 2 Weeks To Issue Prepaid Meters

The electricity workers under the aegis of the National Electricity Employees (NUEE) has issued two weeks ultimatum to the Minister of Power, Mr. Adelabu Adebayo, over the refusal to issue prepaid meters to Nigerians who were being compelled to pay what they termed as crazy bills imposed on them by the electricity distribution companies, while having less than 4,500mw output of electricity.

The threat was contained in a statement signed by the acting NUEE’s General Secretary, Dominic Igwebike.

Part of the unresolved issues also include refusal of most Generation Companies (GenCos), led by Egbin Power Plc, which allegedly had disobeyed all extant Labour laws since taking over in November 2013, and non-payment of 16 months arrears arising from severance, among others.

The statement from NUEE read in part: “In order to achieve impeccable improvements and rejuvenate the power sector, it is expedient that the federal government puts round pegs in round holes and not appointees whose qualifications are political considerations.”

NUEE also complained of lack of engagement with stakeholders in the sector.

According to the union, it was unfortunate that since his assumption of office, the minister had not deemed it necessary to reach out to critical stakeholders in the power sector towards engendering effective collaboration, optimising productivity and increasing power output and impeccable industrial relations atmosphere required to achieve them.

They added that, “Rather, he has embarked on a media frenzy to misinform Nigerians and openly threaten workers in the sector. It is on record that the power sector has not experienced any system collapse in over 400 days due to the industrious and hard-working members that make up the workforce.

“The Minister should be guided to the effect that the power sector did not experience any system collapse during the two days warning strike declared across the nation by the Nigeria Labour Congress (NLC), which we are affiliated to.

“Should the Minister fail to address these issues within two weeks, he should preoccupy himself with recruiting NSA officials to run the Sector,” the statement added.

 

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