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 ESTABLISHES SPECIAL PRESIDENTIAL PANEL ON SOCIAL INVESTMENT PROGRAMMES.(PHOTO).#PRESS RELEASE

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STATE HOUSE PRESS RELEASE


PRESIDENT TINUBU ESTABLISHES SPECIAL PRESIDENTIAL PANEL ON SOCIAL INVESTMENT PROGRAMMES



Sequel to President Bola Tinubu's six-week suspension of the four (4) programmes under the National Social Investment Programmes Agency (NSIPA), President Tinubu has approved the establishment of a Special Presidential Panel, which will be led by the Coordinating Minister of the Economy and Honourable Minister of Finance, Mr. Wale Edun.


This Special Presidential Panel is tasked with immediately undertaking a comprehensive review and audit of existing financial frameworks and policy guidelines of the social investment programmes with a view to implementing a total re-engineering of the financial architecture of the programmes with detailed modification to procedures guiding the programmes' implementation moving forward.


The Special Presidential Panel, which is comprised of ministers representing strategic sectors and will ensure a multi-disciplinary approach to the reform effort, is made up of the following members:


(1) Coordinating Minister of the Economy and Minister of Finance - Chairman


(2) Coordinating Minister of Health and Social Welfare - Member


(3) Honourable Minister of Budget and Economic Planning - Member


(4) Honourable Minister of Information and National Orientation - Member


(5) Honourable Minister of Communicatons, Innovation and Digital Economy - Member


(6) Honourable Minister of State for Youth - Member


President Tinubu anticipates that this Special Presidential Panel will validate the confidence reposed in it by winning back all lost public confidence in these vital programmes over the years by ushering in a new era of operation based on open and accountable governance frameworks that will prove impervious to abuse and incompetence for the exclusive benefit of disadvantaged households across our nation.


Chief Ajuri Ngelale


Special Adviser to the President


(Media & Publicity)


January 13, 2024

 

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