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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GOV. ADELEKE SUSPENDS FOREIGN TRIPS FOR OSUN OFFICIALS. (PHOTO).

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Adeleke suspends foreign trips for Osun officials

Osun state governor, Ademola Adeleke, has barred international visits for key officials in his government for the remainder of the year, with exceptions for emergencies.
To improve efficiency in the governance process, the governor also asked the Head of Service, Leye Aina, to produce a document outlining the relationship between the Commissioners and the Special Advisers.
Adeleke stated that excessive spending on recurrent and overhead expenses must be avoided during a meeting with members of the State Executive Council to deliberate on 2024 budget proposals from ministries, departments, and agencies as a prelude to the submission of the Medium Term Expenditure Framework to the State House of Assembly.
While pushing cabinet members to make personal sacrifices, the governor stated that in light of the state’s dire financial condition, all members of the government must exhibit a willingness to sacrifice.
A statement by the spokesperson to the governor, Olawale Rasheed, obtained in Osogbo on Monday, quoting Adeleke further read in parts, “Foreign trips for top officials for the rest of the year are hereby suspended unless there is a direct emergency to be authorised by the Governor.
“We must sustain the momentum of our service delivery by avoiding excessive spending on recurrent and overheads.
“Our needs from office to accommodation are much, but our resources are limited. So we have to devise a coping mechanism pending the time our funding situation will improve.
“While memos by Special Advisers must pass through the Permanent Secretary to the Commissioners, the Commissioners must ensure fair play and an accommodating spirit.”

 

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