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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LABOUR SUSPENDS NATIONWIDE STRIKE.(PHOTO).

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 Labour Suspends Nationwide Strike


The organised labour comprising Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) has suspended the nationwide strike for one week.


This follows a joint extraordinary National Executive Council of the unions on Tuesday morning.


After shutting down banks, schools, government offices, among others, the Federal Government had invited Labour leaders to a meeting at the office of Secretary to the Government of the Federation.


At the end of the meeting on Monday night, the federal government and organised labour reached an agreement on a new minimum wage that will be “above N60,000″.


The statement from the meeting read in part: “Further to the negotiation by the Tripartite Committee on National Minimum Wage (NMW) and subsequent withdrawal of Labour from negotiation, the Leadership of the National Assembly intervened on 2nd June, 2024. The Organised Labour declared nationwide strike on Monday, 3rd June, 2024 to drive home its demands.


“The Federal Government, in the National interest, convened a meeting with Labour held in the office of the Secretary to the Government of the Federation, on Monday 3rd June, with a view to ending the strike action.


“After exhaustive deliberation and engagement by both parties, the following resolutions were reached:


“The President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria is committed to a National Minimum Wage that is higher than N60,000;


“Arising from the above, the Tripartite Committee is to meet everyday for the next one week with a view to arriving at an agreeable National Minimum Wage;


“Labour in deference to the high esteem of the President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria’s commitment in (ii) above undertakes to convene a meeting of its organs immediately to consider this commitment; and


“No worker would be victimized as a result of the industrial action.”

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