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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KADUNA ASSEMBLY SETS UP COMMITTEE TO PROBE EXPENDITURE, PROJECTS UNDER EL-RUFAI. (PHOTO).

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 Kaduna assembly sets up committee to probe expenditure, projects under el-Rufai


   

The Kaduna house of assembly has set up a committee to examine the books of the state under the administration of Nasir el-Rufai, immediate past governor of the state. 


The committee has been tasked with looking at loans, grants, and project implementation from 2015 to 2023 — the period in which el-Rufai held sway as governor.


On March 30, Uba Sani, governor of Kaduna, said his administration inherited a debt of $587 million, N85 billion, and 115 contractual liabilities from the el-Rufai administration.


Speaking during a town hall meeting, Sani also said he has not borrowed “a kobo in the last nine months”.


He, however, said the huge debt burden is eating deep into the state’s share of the monthly federation allocation.

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