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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PRES. TINUBU APPROVES TAKEOFF OF CONSUMER CREDIT SCHEME. (PHOTO). #PRESS RELEASE.

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 STATE HOUSE PRESS RELEASE 


PRESIDENT TINUBU APPROVES TAKEOFF OF CONSUMER CREDIT SCHEME



President Bola Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme.


Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, paying responsibly over time. It facilitates crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations. 


Through responsible repayment, individuals build credit histories, unlocking more opportunities for a better life. Additionally, the increased demand for goods and services stimulates local industry and job creation. 


The President believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.


The Nigerian Consumer Credit Corporation (CREDICORP) achieves its mandate through the following:


(1) Strengthening Nigeria's credit reporting systems, ensuring every economically active citizen has a dependable credit score. This score becomes personal equity they build, facilitating access to consumer credit.


(2) Offering credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access today.


(3) Promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.


In line with the President's directive to expand consumer credit access to Nigerians, the Nigerian Consumer Credit Corporation (CREDICORP) has launched a portal for Nigerians to express interest in receiving consumer credit. 


This initiative, in collaboration with financial institutions and cooperatives nationwide, aims to broaden consumer credit availability.


Working Nigerians interested in receiving consumer credit can visit www.credicorp.ng to express interest. The deadline is May 15, 2024.


The scheme will be rolled out in phases, starting with members of the civil service and cascading to members of the public.


Chief Ajuri Ngelale 


Special Adviser to the President 


(Media & Publicity)


April 24, 2024

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