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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ADHOC COMMITTEE OF NATIONAL ECONOMIC COUNCIL REAFFIRMS PLEDGE TO COMBAT OIL THEFT.(PHOTO).

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Adhoc Committee of National Economic Council Reaffirms Pledge to Combat Oil Theft

National Economic Council's NEC adhoc committee on oil theft has reiterated commitments to end the menace by blocking the leakages and improve production capacity.

The Chairman, Governors forum of the oil producing states and member of the committee, Mr Hope Ozodunma of Imo state  gave the assurance while briefing newsmen on the out come of their first meeting on the issue  

Hope Ozodunma explained that oil theft in Nigeria had become a serious concern among stakholders and other Nigerians considering the fact that oil sector provides the largest share of economic contribution of the Nation's sources of revenue

He recalled that last month of december 2023 the National Economic Council  had a meeting and among the deliberations constituted an adhoc committee to look in to the issue of oil theft in the country

Hope explained that this oil theft has negetably reduced drastically the contum of oil production in the country thereby causing untold hardships among Nigerians due to adverse revenue strength of the Nation's economy, then what is the out come of their meeting  today

" He said that today we met as first meeting after the Constitution to develope a work plan that the committee will be able to confront the this case of oil theft head long it is my hope that going by our deliberation today we.w8ll be able to make it as our contribution for  National development"

Many stakholders in the industry believed that if the country continues in this crisis the aspirations of achieving economic development would not be possible what is the main concern of the committee in this direction again Hope Ozodunma explained.

"He said our concern which is the concerns of all Nigerians is to restore Nigerian oil production atleast 2. Something million barrel par day and we are committed not to disappoint the National Economic Council".

However, the chairman Governors Forum of the oil producing states further assured Nigerians that they will do their best and come up with  concrete measures aimed at solving the menace for Nigeria's  economic stability for sustainable development.



 

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