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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PRESIDENT TINUBU SET TO ATTEND SAUDI-AFRICA SUMMIT IN RIYADH, SAUDI ARABIA.(PHOTO).#PRESS RELEASE

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STATE HOUSE PRESS RELEASE


PRESIDENT TINUBU SET TO ATTEND SAUDI-AFRICA SUMMIT IN RIYADH, SAUDI ARABIA



President Bola Tinubu will, on Thursday, depart Abuja for Riyadh, Saudi Arabia, to attend the Saudi-Africa Summit, which is scheduled to take place in Riyadh on November 10, 2023.


At the Saudi-Africa Summit, the President will underscore Nigeria’s commitment to attracting more Foreign Direct Investment and expanding business partnerships, which are strongly reinforced by his administration's ongoing domestic economic reforms.


Discussions at the first Saudi-Africa Summit will revolve around supporting joint action, enhancing political coordination, addressing regional security threats, facilitating economic transformation through research and the local development of new energy solutions, all while bolstering cross-sectoral investment cooperation.


The President will be accompanied by the Minister of Foreign Affairs, Amb. Yusuf Tuggar; Minister of Education, Prof. Tahir Mamman; Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun; Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu; as well as the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu.


Others are the National Security Adviser (NSA), Mallam Nuhu Ribadu; the Director General of the National Intelligence Agency (NIA), Amb. Ahmed Rufai Abubakar; and the Chairman of the National Hajj Commission of Nigeria (NAHCON), Mallam Jalal Arabi.


President Tinubu will return to Abuja following the conclusion of the Saudi-Africa Summit.


Chief Ajuri Ngelale


Special Adviser to the President


(Media and Publicity)


November 8, 2023

 

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