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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COME CLEAN TO NIGERIANS, ACT QUICKLY, REWANE TELLS TINUBU. (PHOTO).

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Come Clean To Nigerians, Act Quickly, Rewane TellsTinubu


A renowned economist and Managing Director/Chief Executive Officer of Financial Derivatives Company Limited in Lagos, Bismarck Rewane, has urged President Bola Ahmed Tinubu to tell Nigerians the truth and do something quick to save the nation’s economy, saying the situation is not looking good.


Rewane stated this during an interview on Channels Politics Today.


He said that there is no quick fix solution to Nigeria’s economic challenges.


He said that what the president needed to do at the moment was to block the leakages and look for competence rather than loyalty.


Rewane said, “You have to be honest to yourself. There is no quick fix to Nigeria’s economic problem. Come clean to the Nigerian people and tell them that this is the extent of the problem. We did it after the civil war. Chief Awolowo came and said what to do. At the end, everything was rebuilt and the economy came back to where it was supposed to be.


“So come clean; block the leakages; and look for competence. Competence is more important at this time than loyalty. Look for competence and make sure that you execute efficiently.


“Any solution that requires printing more money is not the panacea for inflation. Inflation is the beginning of the end of a currency and the end of a currency is the beginning of political crises.


“The situation is not looking good. You (Tinubu) have to do something and do it in a hurry. And make sure you get feedback so that you are monitoring the situation because the feedback you get may be wrong. You may think you are on the right path, while you are on the wrong path. Honest and professional feedback as to what the truth is. Without the truth you cannot set the people free.”


 

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