INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

-
Image
  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
Post a Comment

FG ASKS SUPREME COURT TO EXTEND OLD NOTES VALIDITY AFTER DECEMBER 31ST.(PHOTO).

-


FG Asks Supreme Court To Extend Old Notes Validity After December 31     

The Federal Government on Wednesday asked the Supreme Court to grant an extension of time for old naira notes to remain in circulation as a legal tender.

The government also wants the court to lift its March 3 order that the old naira notes should remain alongside the new notes till December 31.

In March, the Central Bank of Nigeria (CBN) had said old N200, N500, and N1,000 banknotes would remain legal tender till December 31, 2023.

It said the extension of time is necessary and it has not been able to print the volume of new notes that would enable it to phase out old currency before the December 31 order.

In the fresh application by the Attorney-General of the Federation, Lateef Fagbemi, the Federal Government is seeking the following reliefs:

An order of the court reviewing its consequential order contained in the judgment of 3rd March, 2023 to the effect that the old 200, 500 and 1,000 naira notes should be legal tender until the 31st of December, 2023.

The Federal Government further explained that should the Supreme Court decline its request to extend the period of circulation of old notes, the country stands the risk of descending into another national, economic and financial crisis as witnessed in the first quarter of the year when the naira redesign policy was being implemented under the former Central Bank Governor, Godwin Emefiele.

It asked the court to allow the old notes to be in use with the new notes until after it consults with stakeholders, pointing out that the economy may be in jeopardy once again because some Nigerians have started hoarding the old and new naira notes ahead of the December 31st timeline.

The government said it has been engaging the 10 plaintiff states in their capacities as members of the National Council of State and the National Economic Council.

The 10 plaintiffs headed for the Supreme Court in the interest of the public, leading to judgment by the apex court extending the circulation of the old notes till December 31.

The government was said to have realised that unless there is a fresh order from the Supreme Court, the old notes can no longer be in circulation after December 31.

The Supreme Court has fixed November 30 for a hearing.

Comments

Post a Comment

Popular posts from this blog

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

-
Image
Innoson Gives Out Brand New IVM G5 and Salary For Life To The Man Who Prophesied About His Vehicle Manufacturing In 1979.  Last Saturday, July 22nd the Chairman of Innoson Vehicle Manufacturing Company Ltd, Chief Dr Innocent Ifediaso Chukwuma OFR gave out a brand new Innoson IVM G5 to Mr Ikechukwu Osakwe popularly known as Osabros who prophesied to him in 1979 that he would be the first man in Africa to manufacture vehicles and sell to different African countries.  The prophecy was given at the period the then Innocent Chukwuma could not boast of a car, talk less of manufacturing one. According to Dr Chukwuma during the presentation of the car, he recalled on how Mr Ikechukwu Osakwe all the way from Kano blocked him at the front of his house early in the morning and told him he has a message for him.  Mr Osakwe went on to narrate a dream he had about him, how he saw in the said dream his vehicle manufacturing company known as CAP PLC. "He told me that CAP means Chukwuma Automobil
Read more

SHAKIRA COVERS WOMEN'S HEALTH MAGAZINE,APRIL ISSUE.

-
Image
             Gerard Pique,welcomed their first child into the world last year January.Shakira told the magazine that ''I think it takes two to keep it passionate in relationships,a lot of laughter and a lot of fun moments together,that's essential but also affinity,you know.You have to be compatible.I'm really happy where i am right now,with the person that i'm with right now.He seems to want the same things i want,and that's very important''.More pictures below.                                                                                                                    
Read more

SSANU, NASU THREATEN STRIKE OVER WITHHELD SALARIES. (PHOTO).

-
Image
  SSANU, NASU threaten strike over withheld salaries The Joint Action Committee of the Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Educational and Associated Institutions have threatened to disrupt industrial peace in universities should the government fail to release the withheld salaries of members. The salaries were seized by the administration of former President Muhammadu Buhari during their strike in 2022. The unions, in a joint letter signed on Friday by the President of SSANU, Muhammed Ibrahim and General Secretary of NASU, Peters Adeyemi, questioned the rationale with which the government released four months withheld salaries to members of the Academic Staff Union of Universities but failed to release the withheld salaries of non-academic staff. The unions noted that they would no longer be able to assure the government of industrial peace in universities should the amounts owed by the government are not released. Earlier, the unions
Read more