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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OGUN YET TO TAKE POSSESSION OF ABEOKUTA- OTA-LAGOS EXPRESSWAY- GOV. ABIODUN'S AIDE. (PHOTO). #PRESS RELEASE

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 Ogun yet to take possession Of Abeokuta-Ota-Lagos Expressway - Abiodun's aide 

Work is yet to begin on the reconstruction of the Abeokuta-Ota-Lagos Expressway because the Ogun State Government is still waiting for final approval of the concessioning of the road from the Federal Government.


It will be recalled that the Minister of Works, David Umahi, announced in October last year, during a briefing after the Federal Executive Council (FEC) meeting at the Aso Villa, that the Federal Government had finally concessioned the all important road to the Ogun State Government to reconstruct after several efforts made to that effect by the Governor Dapo Abiodun-led administration.


The reconstruction was to be carried out under the Highway Development and Management Initiative (HDMI), with the Infrastructure Concession Regulatory Commission (ICRC) and the Federal Ministry of Finance to be involved in the process.


Special Adviser to Governor Dapo Abiodun on Media, Mr. Kayode Akinmade, speaking on the latest development on Monday, said that although there is a presidential approval for the concessioning, there is no EXTRACT from the Federal Executive Council (FEC) approving the concessioning.


According to Akinmade, the procedure for the concessioning is not complete without FEC's EXTRACT paper.


He noted that after deliberation and approval, the FEC will issue an extract from the office of the Secretary to the Government of the Federation (SGF), transferring the road to the Ogun State Government.


The special adviser said that the Ogun State Government is waiting anxiously for the FEC's nod to proceed with the project.


He added that the FEC Extract is needed to raise funds for the project and also discuss with investors.


Commissioner for Works, Engr. Ade Akinsanya had earlier said the state administration had been providing palliatives to make the roughly 70km road manageable for motorists.


"Ogun State has been rehabilitating the road since 2019. We keep doing palliative works because the governor is always concerned about the suffering being experienced by the people. He remains concerned about the deplorable state of the road until he got what he wanted from the federal government.

 

"With the transfer done now, we are happy and ready to immediately take over the project and turn around the fortunes of the road. It's what we've been looking for, praying for since we came on board. We will take over immediately, subject to paperwork between us and the federal ministry," he had said.

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