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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GIABA ESTABLISHES SANCTION TO PREVENT SPREAD OF CRIMINALS.(PHOTO).

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GIABA Establishes sanction to prevent spread of criminals


Intergovernmental Action Group Against Money Laundering in West Africa (GIABA) says it will establish a sanctions regime to prevent the spread of criminal activity and limit the free movement of terrorists in the region


The Director General of GIABA Mr Edwin Harris-Jr stated this known in Abuja at the 27th GIABA Ministerial Committee Meeting. 


He expressed concern over the low level of effectiveness in the Fight against Transnational Crimes in West Africa, saying that to address the issue, Anti Money Laundering and Counter-Terrorism Financing effort AML/CFT would be strengthened to hold criminals accountable.


The Attorney General and Minister of Justice Chief Lateef Fagbemi who is also the Chair of the GIABA ministerial committee disclosed that steps were being taken to meet the global standards in protecting the integrity of Nigeria’s financial system and national security. 


He said at the ministerial level consistent commitment to supporting key supervisory and law enforcement authorities was being made. 

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