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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EFCC DEFENDS ARREST OF SUSPECTED FOOD SMUGGLERS. (PHOTO). #PRESS RELEASE

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 EFCC Defends Arrest of Suspected Food Smugglers


The Economic and Financial Crimes Commission, EFCC, on Wednesday, March 6, 2024 justified the interception and arrest of 21 trucks loaded with food items allegedly being smuggled into neighboring countries, describing it as economic sabotage.


The justification was made in Abuja on Wednesday, March 6, 2024 by the Spokesperson of the Commission, Assistant Commander of the EFCC, ACE I Dele Oyewale while fielding questions in an interview session with the EFCC Radio, 97.3Fm.


According to him, the EFCC is saddled with the mandate of tackling all forms of economic and financial crimes, especially issues that directly affect the economy to avert sabotage. “Anything that has a negative bearing on the economy is an act of economic sabotage or serving as a leakage, distortion or disequilibrium in the economy, the Commission has a responsibility to tackle it and that is what the EFCC has done”, he said.


Continuing,  the image maker explained that,  “it is not that the Commission is throwing its nets towards the borders, an arrest can be made anywhere, and the smugglers were arrested at the exit routes leading to Cameroon and Chad as a result of the effectiveness of our surveillance. They could have also been arrested anywhere else but the most important thing is that they were arrested for allegedly smuggling food items that could be useful to Nigerians, which they were not allowed to take out of the country”.


He urged the public to commend and support the Commission for spreading its wings across the country, “the Commission is proactive and it is everywhere to ensure that the economy is revamped so that Nigerians can get optimum value. So, I think Nigerians should applaud the Commission more for being so proactive enough to tackle such incidental crimes. We all need to join our hands together to ensure that this problem of economic sabotage is directly addressed”, he said.

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