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

JAPANESE AGENCY BACKS OLUKOYEDE'S FOCUS ON ECONOMIC DEVELOPMENT. (PHOTOS). #PRESS RELEASE.


 Japanese Agency Backs  Olukoyede’s  Focus on Economic Development


The Japan International Cooperation Agency ,JICA,  has thrown its weight behind the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede in his determined bid  to use the fight against economic and financial crimes as a potent weapon of achieving sustainable economic development and good governance in Nigeria.


This gesture was made in Abuja on Thursday,  May 2, 2024  by the Chief Representative of JICA ,Yuzurio Suzumu while on a courtesy visit to the the corporate headquarters of the EFCC. 


According to Suzumu, "EFCC is a very important partner for collaboration, and our aim is to contribute to the sustainable development of Nigeria. We have identified sustainable economic development, social development, good governance and peace building as key pillars of our collaboration,  he said.


 Suzumu emphasized that financial crimes are a cross-sector issue affecting the development of the economy, society, governance, and peace. He expressed appreciation to the EFCC for its strong commitment and effort towards combating economic and financial crimes  and other acts of corruption, as well as making proposals for broad-based capacity-building programs  for  staff of the EFCC and other Ministries, Departments and Agencies, MDAs in the area of fighting corruption.  


In his response,  Olukoyede pointed out that JICA had shared values and objectives with the EFCC.  "We also stand for sustaining economic development and good governance. In fact, upon my assumption of office, one of my policy objectives was to use the anti-corruption instrumentality to stimulate the economy."


 He also restated the EFCC's efforts aimed at stabilizing the foreign exchange market, stressing that the Commission would not relent in monitoring developments in the sector and prosecute illegal foreign exchange traders causing disruption in the forex market. 


“We are trying to stabilize the foreign exchange market and stimulate growth in the economy. To this effect, companies and entities operating to destroy the economy won’t be allowed to have their ways”, he said.


He also emphasized the importance of preventive frameworks against corruption, maintaining  that, “We are not going to wait for the money to be stolen before taking actions”.


The Chairman also pledged to collaborate with JICA, particularly in the areas of manpower training and development to achieve shared objectives. He called for more support for President Bola Tinubu in his quest to reflate and rebuild the commanding heights of the economy.  “We need to support President Bola Tinubu’s relentless efforts to revive and grow the economy”, he said.

 

More photos below. 



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