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

WE'LL PRODUCE A BETTER ELECTORAL ACT FOR 2027 ELECTIONS- SPEAKER. (PHOTO).


 We'll produce a better Electoral Act for 2027 elections – Speaker


The Speaker of the House of Representatives Dr. Abbas Tajudeen,  says  the 10th House would work to produce a better Electoral Act that would ensure improved elections in the year 2027.


The Speaker  also said the House had already identified some areas in the electoral law that need to be strengthened ahead of the next election cycle.


  Dr. Tajudeen stated this when he received a European Union delegation to Nigeria and Economic Community of West African States led by the EU Ambassador to Nigeria, Ms Samuela Isopi, at his office in Abuja.


 The 9th National Assembly had reviewed the Electoral Act 2010, leading to the emergence and application of the Electoral Act 2022 for the 2023 elections.


However, the Speaker stated that a further review of the current Act would produce better results in the 2027 elections.


 He said the Green Chamber under his leadership would do its best to pass legislation to encourage women and youth participation in politics and governance.


   “I want to particularly express our appreciation to the European Union for all the supports and contributions that you have been giving the Nigerian Government, and by extension the Nigerian Parliament since 1999. It is on record that you are one of the biggest singular contributors in terms of technical support to the National Assembly since inception of this institution in 1999.”


  The Speaker, who received copies of the EU reports on Nigeria’s 2023 elections, said they would be studied carefully.


“We have already set the ball rolling and the machinery in action. We realised that in spite of all that we did in 2022 to strengthen the law (Electoral Act), there are other issues that cropped up, which require our attention, and we will not leave any stone unturned. All those areas of weaknesses in the Electoral Act, we are going to revisit and review them.


The Speaker informed the EU delegation that the 10th House had created about 15 friendship groups for EU countries alone, noting that a new one dedicated to the EU and its Parliament would be set up soon.


  The Speaker explained that the youth in the chambers were also given prominence, saying a special committee known as the Committee on Youth in Parliament was established for members under the age of 45.


  Earlier, Ambassador Isopi raised three issues of concern to the EU, namely: women in politics and governance, electoral reforms and inter-parliamentary relations.


She said the EU had been a champion and an advocate of democracy, and has supported Nigeria's democracy since its return in 1999.


 

  The EU ambassador also noted that investment on democracy was one of the best decisions a country could take for the future of its people.

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