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 APPOINTS INFRACORP AS LEAD DEVELOPER OF NIGERIA’S GREEN INDUSTRIAL ZONE, EVERGREEN CITY.(PHOTO).#PRESS RELEASE

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STATE HOUSE PRESS RELEASE


PRESIDENT TINUBU APPOINTS INFRACORP AS LEAD DEVELOPER OF NIGERIA’S GREEN INDUSTRIAL ZONE, EVERGREEN CITY



In line with his commitment to ensure industrial development that meets the demands of the present and the future, President Bola Tinubu has approved the appointment of The Infrastructure Corporation of Nigeria (InfraCorp) as the Lead Arranger and Developer of Evergreen City, Nigeria’s green industrial zone, with the following terms of reference:


(1) Selection of partners/consultants to undertake critical development activities, including project design, environmental impact assessments, feasibility studies, financial modelling, and market engagement.


(2) Raising private funding for the development of the city and constituent projects.


(3) Coordinating with partners, development institutions, and other providers of capital and technical assistance.


(4) Reporting to the Supervisory Presidential Steering Committee on Project Evergreen


Dr. Lazarus Angbazo, CEO of InfraCorp, holds a first-class Bachelor’s degree in Mathematics; a Master’s degree in Industrial Engineering and Operations Research from the University of Iowa, and a Doctorate degree in Corporate Finance from the New York University.


He was President and Chief Executive Officer of General Electric in Nigeria, where he doubled GE's revenue. He was also the CEO of General Electric Grid Solutions Africa and led GE's regional operations between 2008 and 2012 as President and CEO, West, East & Central Africa.


Furthermore, the President has approved the establishment of the Presidential Steering Committee on Project Evergreen, the supervisory technical working group, to oversee the pioneering endeavour.


The Presidential Steering Committee is composed of the following members:


(1) Special Presidential Envoy on Climate Action - Chairman 


(2) Lolade Abiola (UN SE4ALL) - Secretary 


(3) Lazarus Angbazo (CEO, InfraCorp) - Member


(4) Salisu Dahiru (CEO, NCCC) - Member 


(5) Aminu Umar-Sadiq (CEO, NSIA) - Member


(6) Khalil Halilu (CEO, NASENI) - Member 


(7) Abba Abubabkar Aliyu (CEO, REA) - Member 


(8) Fatima Shinkafi (CEO, SMDF) - Member 


(9) Uzoma Nwagba (CEO, CrediCorp) - Member 


(10) Bala Bello (Deputy Governor, CBN) - Member 


(11) Teni Majekodunmi (NCCC) - Member 


(12) Nana Maidugu (NSIA) - Member 


(13) Michael Ivenso (NCCC) - Member 


(14) Suleiman Yusuf (Blue Camel Energy) - Member 


(15) Chidi Ajaere (Jet EV) - Member


The President expects absolute dedication and professionalism to drive this critical project with the clear objective of making Nigeria the leading manufacturing hub in Africa for renewable energy technologies, green solutions, and climate-adaptation technologies for the maximum benefit of Nigerians and Africans at large.


Chief Ajuri Ngelale 


Special Adviser to the President


(Media & Publicity)


May 19, 2024

 

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