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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REP HALT DEMARCATION TO CEDE SINA. (PHOTO).

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Reps Halt Demarcation To Cede Sina

The House of Representatives Ad hoc Committee on International Boundary Dispute has directed that the demarcation exercise to cede Sina Area in Michika Local Government Area of Adamawa State to the Republic of Cameroon be halted immediately.

The Chairman of the Committee, Mrs Beni Lar, gave the ruling during a hearing on the series of lingering boundary hotspots across the Nigeria-Cameroon boundaries, which stretch from the Lake Chad region down to the Cross River estuaries.

The hearing was also to assess the role of the military, paramilitary, and security agencies in safeguarding the borders and territorial integrity of the country.

Mrs Lar stated that the committee has to continue the engagement with the relevant community as well as the boundary commission and come up with a solution, noting that the communities have rights that must be considered.

She explained that the second aspect of the interactive briefing, which is very critical, is on the role of the military, the paramilitary, and the security agencies towards safeguarding the borders and territorial integrity of Nigeria.

According to her, during the Committee’s last visit to Cross Rivers State, they discovered the lack of Security posts or barracks of any sort along the nation’s land borders, whereas such is obtained across the Cameroon side of the border.

The Director General of the National Boundary Commission, Mr Adamu Adaji, said the demarcation exercise was being carried out in line with a ruling of the International Court of Justice.

According to him, the Adamawa State sector of the boundary between Nigeria and Cameroon, as decided by the International Court of Justice, is based on treaties and agreements that had been entered into by colonial masters.

Mr Adaji affirmed that the courts upheld the treaties and agreements and ruled that they be used to re-establish the boundary.

The representative of Sina Area, Mr Adamu Kamale, said the disputed area was a Nigerian territory and was never a settlement.

He added that the community was never considered in the entire demarcation process.




 

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