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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SENATE ORDERS IG TO PRODUCE CAC BOSS WITHIN 24 HOURS. (PHOTO).

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 Senate orders IG to produce CAC boss within 24 hours


The Senate Committee on Finance has mandated the Inspector General of Police to compel the appearance of the Registrar General of Corporate Affairs Commission, Ishaq Magaji, before it within 24 hours.

The Senate Committee Chairman, Sani Musa, expressed anger when the Registrar General shunned the committee’s invitation for the third time on Wednesday.

He was expected to appear to defend the commission’s 2024 budget, as some financial discrepancies were spotted by the committee in the documents submitted.

The four senior officials of the commission, having confirmed several letters of invitation by the Clerk of the Senate Committee on Finance, could not explain the reasons for the RG’s absence before the panel.

Before Musa’s remark, Senator Ifeanyi Ubah (Anambra South) called for punitive measures against the RG to serve as a deterrent to others.

Senator Bello Mandiya, representing Katsina South, expressed frustration at Magaji’s disdain for the committee, wondering what he was hiding that made him scared.

Mandiya said, “I think, it’s disrespect by the Registrar General of the Corporate Affairs Commission to shun this Committee for the third time.

“Even the President and Commander-in-Chief of the Federal Republic of Nigeria appears before us to present a budget.

“Who is Registrar General of CAC that cannot appear before us?”

Reacting, Senator Abdul Ningi advised the CAC officials not to come back without Magaji, urging them to let the CAC face the heat and explain how the money was spent in the agency.

Ningi said, “Mr Chairman, it is imperative to understand where they are coming from that this is not the first time they are appearing before the committee.

“There was a  discussion with you that there were discrepancies in revenue generation and expenditure by the Corporate Affairs Commission and we said the Registrar General should be here.

“Yet, you are here and you probably told him that you can do the job. Even if you can do the job, this job is not for you please. Don’t take the bullet that is meant for him.”

In his ruling after reactions by the committee members,  Musa said, “With all sense of humility, the Corporate Affairs Registrar General has disregarded this committee.

“The Corporate Affairs Commission was present when we treated MTEF/FSP and the Director of Finance was here. We saw discrepancies and we told you to go and come back.

“You have your book keepers; you have your records and we asked you to go and tidy up and report back, but you never did.”

“I am invoking Section 89 (2) mandating the Inspector General of Police to compel appearance of the Registrar General of the Corporate Affairs Commission before the Senate Committee on Finance within 24 hours,” Musa ruled.

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