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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LASU: LAGOS ASSEMBLY SIMMONS COMMISSIONER, VC, OTHERS OVER CERTIFICATE RACKETEERING. (PHOTO).

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Lagos Assembly summons commissioner, VC, others over certificate racketeering

The Lagos State House of Assembly, yesterday, resolved to invite Commissioner for Tertiary Education, Tolani Akibu, Vice Chancellor of Lagos State University (LASU), Prof. Ibiyemi Olatunji-Bello, Senate of the institution and other top staff over allegations of extortion and certificate racketeering levelled against the school.

Speaker, Mudashiru Obasa, while noting that the source of the story could be suspicious, resolved that the concerned officials should be summoned to brief the chamber to save reputation of the tertiary institution.

“I agree that the committee should invite those to be invited to establish facts about the allegation, but we must not because of that destroy our institution’s reputation,” Obasa, an alumnus, adding that anyone found wanting would be sanctioned.

Moving the motion under ‘Matter of Urgent Public Importance’, a lawmaker, Owolabi Ajani, told his colleagues that there was need to invite the commissioner, VC and others to get first-hand information.

He submitted that LASU has maintained a high level of integrity over the years, which must be sustained.

While Sa’ad Olumoh urged that the investigation should involve people in the Information and Communication Technology (ICT) unit of the institution, Desmond Elliot and his colleague, Ladi Ajomale, who said they attended the school also, supported that the allegation be investigated.

Meanwhile, the House has moved to criminalise street begging.

The Speaker, while reacting to the motion, harped on legislating to end the menace in the state.

According to him, street begging has become a serious problem in Lagos that must be tackled head-on.

He emphasised the need for a law that would criminalise the act and also penalise individuals who give alms openly.

 

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