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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FG SET FOR MADE-IN-NIGERIA VEHICLE PRODUCTION IN 2024.(PHOTO).

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 FG Set For Made-In-Nigeria Vehicle Production In 2024


The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, says Nigeria is ready to commence local automobile manufacturing before the end of the year.


At the African Association of Automotive Manufacturers and the Nigerian Automative Manufacturers Association’s meeting in Abuja, Uzoka-Anite said funds to grow the nation’s automotive industry have been made available to local manufacturers.


According to her, it was vital to source made-in-Nigeria vehicle materials locally.


She seized the occasion to inform all stakeholders, including manufacturers, dealers, regulatory bodies, and other players in the automobile ecosystem, to key into the Nigerian Automotive Development Policy, and start making the desired contribution to the nation’s economy.


The African Association of Automotive Manufacturers is an organisation dedicated to the industrialisation and development of the automotive sector across Africa.


It works with governments to shape policies, attract investors, and support the economic potential of the continent, by promoting sustainable and affordable mobility solutions.


The association primarily serves the automotive industry, including manufacturers, investors, and policymakers. It is based in Johannesburg, South Africa.

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