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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COMPLY WITH NIGERIA'S LABOUR LAWS, KALU TELLS FOREIGN INVESTORS. (PHOTO).

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 Comply with Nigeria’s labour laws, Kalu tells foreign investors


The Deputy Speaker of the House of Representatives, Benjamin Kalu has advised foreign companies and investors to subscribe to the Nigerian labour laws in line with international best practices while carrying out their businesses in the country.


Kalu made the call on Monday while playing host to a delegation from Quingdao Municipal Council, China led by the Chairman of the Standing Committee of Qingdao Municipal People’s Congress, Mr Wang Luming.


Describing Qingdao as China’s powerhouse in shipbuilding and construction, Kalu recalled Nigeria’s diplomatic ties with China, noting that both countries have collaborated well on issues of mutual benefits.


A statement issued on Monday by the Chief Press Secretary to the Deputy Speaker, Levinus Nwabughiogu, quoted Mr Kalu as saying, “It’s important to comply with the labour laws. As we have more companies coming to Nigeria, we are strict with compliance with our laws.


“We have observed that some of the companies that are working in Nigeria are not complying with our labour laws, this is with regards to taking care of those working for them.”


Kalu also pledged the readiness of the House to dialogue with its Chinese counterpart for the mutual benefit of both countries.


“The House of Representatives is eager to engage in meaningful discussions with the Qingdao Municipal People’s Congress as part of the core engagements toward actualizing the House’s eight-point legislative agenda most especially through business and investment-friendly legislative frameworks and oversight.


“By working together, we can unlock a future of mutual benefit.


“We believe that this meeting will help enhance our understanding of shared interests, strengthen partnerships in economic sectors, facilitate opportunities for Qingdao enterprises in Nigeria, and promote mutual understanding and friendship, laying a strong foundation for deepening bilateral relations.


“We can join forces to build the infrastructure Nigeria needs to thrive. From top-notch home appliances to reliable tyres and delectable processed foods, Qingdao’s manufacturing muscle presents a wealth of opportunities. Imagine factories humming in Nigeria, producing these goods or even becoming export hubs to the rest of Africa,” he added.


Earlier in his presentation, the Chairman of the Standing Committee of the Qingdao Municipal People’s Congress, Wang Luming said they came to synergise with the Nigerian government in areas of technology, vocational education and talent training in a bid to address unemployment in the country.

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