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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NNPC LTD CLARIFIES LAGOS DEPOT FIRE INCIDENT, SAYS NORMALCY RESTORED. (PHOTO). #PRESS RELEASE.

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PRESS RELEASE

NNPC Ltd Clarifies Lagos Depot Fire Incident
…Says Normalcy Restored

The Nigerian National Petroleum Company Limited (NNPC Ltd.) wishes to clarify that the fire incident at a tank farm in Marine Beach, Apapa, Lagos, was at a Depot belonging to HOGL Energy Ltd. (Honeywell Depot) and not an NNPC Retail Ltd. facility, as circulated by early responders.

The fire, which has since been extinguished, was as a result of petroleum products spillage within the perimeter of the tank farm.

Meanwhile, NNPC Ltd. and other Depots in the area have resumed loading activities.

NNPC assures that the incident will, in no way, affect petroleum products supply and distribution across the country.

Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd
Abuja.

17 May, 2024

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