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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PRES. TINUBU SECURES LANDMARK DEAL WITH UNITED ARAB EMIRATES ACROSS SECTORS; VISA BAN ON NIGERIAN TRAVELERS IS LIFTED IMMEDIATELY.(PHOTO).#PRESS RELEASE

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STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU SECURES LANDMARK DEAL WITH UNITED ARAB EMIRATES ACROSS SECTORS; VISA BAN ON NIGERIAN TRAVELERS IS LIFTED IMMEDIATELY


President Bola Ahmed Tinubu and President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, on Monday in Abu Dhabi, have finalized a historic agreement, which has resulted in the immediate cessation of the visa ban placed on Nigerian travelers.

Furthermore, by this historic agreement, both Etihad Airlines and Emirates Airlines are to immediately resume flight schedules into and out of Nigeria, without any further delay. 

As negotiated between the two Heads of State, this immediate restoration of flight activity, through these two airlines and between the two countries, does not involve any immediate payment by the Nigerian government.

In recognition of President Tinubu's economic development diplomacy drive and proposals today presented by President Tinubu to his counterpart, an agreed framework has been established, which will involve several billions of U.S. dollars worth of new investments into the Nigerian economy across multiple sectors, including defense, agriculture and others, by the investment arms of the Government of the United Arab Emirates.

Additionally, President Tinubu is pleased to have successfully negotiated a joint, new foreign exchange liquidity programme between the two Governments, which will be announced in detail in the coming weeks.

In conclusion, the President wishes to commend the UAE President, Mohamed bin Zayed Al Nahyan, for his unalloyed friendship and his determined effort to join hands with him to fully normalize and reset to excellence, the standard of relations between the two important countries.

Chief Ajuri Ngelale

Special Adviser to the President 

(Media & Publicity)

September 11, 2023

 

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