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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PRES. TINUBU SIGNS N2.1 TRILLION SUPPLEMENTARY 2023 BUDGET.(PHOTO).#PRESS RELEASE

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STATE HOUSE PRESS RELEASE


PRESIDENT TINUBU SIGNS N2.1 TRILLION SUPPLEMENTARY 2023 BUDGET


President Bola Tinubu signed the N2.176 trillion Supplementary Appropriation Act on Wednesday in Abuja to strengthen Nigeria's security architecture and address Nigeria's critical infrastructure deficit, amongst other considerations.

The President signed the Supplementary Appropriation Act, 2023, in his office at the State House in the presence of Senate President Godswill Akpabio; Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas; Secretary to the Government of the Federation, Sen. George Akume; Majority Leader of the Senate, Opeyemi Bamidele; the Chairmen of the Appropriation Committees in the Senate, Sen. Olamilekan Adeola, and the House of Representatives, Hon. Abubakar Bichi, as well as the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji.  

Providing a breakdown of the supplementary budget, the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, said the newly approved expenditure for defence and security consists of about thirty percent, while thirty-five percent is dedicated to the provision of critical infrastructure to be allocated to the Federal Ministries of Works, the Federal Capital Territory, and Housing & Urban Development. 

The Minister further explained that thirty-two percent of the supplementary budget was allocated to the new Wage Award for treasury-paid federal workers to cushion the effect of the removal of fuel subsidy, in addition to cash transfers to vulnerable persons, and support to the Independent National Electoral Commission (INEC), amongst other considerations. 

President Tinubu commended the National Assembly for its expeditious consideration and approval, assuring Nigerians that the executive arm of government would ensure the judicious use of the budgeted resources.  

Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

November 8, 2023

 

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