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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YULETIDE SEASON: TINUBU SLASHES TRANSPORT FARES NATIONWIDE BY 50%.(PHOTO).

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Yuletide Season: Tinubu slashes transport fares nationwide by 50%

In a significant move aimed at easing the financial burden on Nigerians during the festive season, President Bola Tinubu has given the nod for a 50% reduction in interstate transport fares.

Effective from Thursday, December 21, 2023, to January 4, 2024, commuters nationwide can enjoy more affordable travel rates.

Additionally, in a generous gesture, President Tinubu has sanctioned free rides for all passengers utilizing train services during the specified period.

The announcement was made today by Mr. Dele Alake, the Minister of Solid Minerals Development, who conveyed the president’s decision to State House Correspondents at the Aso Rock Villa.

Alake said, “It is in this wise that the President is announcing through us that beginning from tomorrow, December 21, Nigerians willing to travel can board public transport via mini buses, luxury buses at 50 per cent discount of current cost and all our train services on the route the trains currently serve at zero cost on their travels this holiday season.

“This special presidential intervention will commence tomorrow, Thursday, December 21 and it will end on January 4, 2024.

“The Federal Government, through the Ministry of Transportation, will be working with transporters, road transport unions, the Nigerian Railway Corporation to seamlessly deliver on this special presidential initiative.

“I can tell you that all the relevant stakeholders in that industry have been discussed with or been engaged and all the parameters laid out and the Minister of Transportation has the full details and it’s on top of the game.

“In fact, the Presidents of the various transport unions have been met…and everything is in top shape in terms of execution.”

On air travel, Alake said that the initiative did not apply.

“The initiative is for the masses. Air is luxury. The masses don’t use air transport. So they are our main target,”said.

This move is expected to bring relief to citizens traveling across the country, fostering a more accessible and budget-friendly means of transportation during the yuletide season.


 

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