INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

Image
  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

GANI ADAMS TO FG: YOU CAN'T IMPOSE HARDSHIP ON NIGERIANS AND EXPECT SILENCE. (PHOTO).


 Gani Adams to FG: You can’t impose hardship on Nigerians and expect silence


Gani Adams, the Aare Ona Kakanfo of Yorubaland, has implored President Bola Tinubu to take drastic steps towards ameliorating the hardship in the country.


Speaking in an exclusive chat with TheCable on Friday, Adams said the federal government cannot continue to impose hardship on Nigerians and not expect a reaction.


Recently, there have been protests against economic hardship in some states of the federation, with the Nigeria Labour Congress (NLC) also declaring a two-day nationwide industrial action for February 27 and 28, 2024.


Adams said a bag of rice that was sold for less than N50,000 when former president Muhammadu Buhari handed over to Tinubu in May 2023, now goes for N85,000.


“I will advise that the government should look into the issue of multi-taxation. It always creates problems and inflation. Also, the federal government still has the chance to reconsider the issue of fuel price hike,” he said.


“Today, we are buying fuel for about N700 per litre and you are saying you don’t want people to protest. Definitely, you can’t continue to impose hardship on the people and you have the mindset that people will be quiet about it.


“How many security personnel will you use to curtail the people when the crisis comes? So, the federal government needs to take urgent drastic action on the state of the nation so that we don’t box ourselves into a corner.”


Adams who insisted that the only viable solution to Nigeria’s problem is restructuring, said the prolonged closure of the country’s borders also worsened the economic crisis.


He made a case for more allocations to the local governments, saying when this is done, the burden on the shoulders of the federal government will lessen, while democratic dividends will reach people at the grassroots.


“You can see how people are shouting of hunger across the country today,” Adams added.


“The responsibility of providing food for Nigerians does not solely rests on the shoulders of the president. It should be the responsibility of the state and local governments as well.


“In a situation where the state governor takes more than 80 percent of the allocation and gives the local government 10 or 15 percent, how will they feed the grassroots and even deal with the issue of insecurity at the local level?”


“I read in the dailies that the federal government was threatening cement manufacturers that they will open the borders if they don’t reduce the price of cement. That to me, is insulting.


“One of the reasons the federal government closed the borders for almost five years now is because they want to satisfy local manufacturers. What is the job of the immigration and customs? Are they not to stop illegal goods and people from coming into the country?


“By closing the borders, it means you don’t trust your paramilitary personnel already doing that job at the borders.


“Also, by closing the borders, most of the people doing legitimate businesses who are selling goods to neighbouring countries or bringing goods to Nigeria, have been shut out of the economy.


“Rice and bread are normal foods for people all over the world. By the time the federal government shut the borders, a bag of rice that was selling for 30,000 during Buhari’s era jumped to almost N50,000 before he left office in May 2023.


“Now, the government of Bola Tinubu has continued with the shutting of the borders. Now, a bag of rice that was less than N50,000 when Buhari handed over to him is now being sold for N85,000.


“We are in serious trouble.”

Comments

Popular posts from this blog

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

SHAKIRA COVERS WOMEN'S HEALTH MAGAZINE,APRIL ISSUE.

SSANU, NASU THREATEN STRIKE OVER WITHHELD SALARIES. (PHOTO).