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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NIGERIA NO LONGER INTERESTED IN AIRLINE PARTNERSHIP- ETHIOPIAN AIRLINES. (PHOTO).

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 Nigeria no longer interested in airline partnership — Ethiopian Airlines


Ethiopian Airlines has announced that the Nigerian government is no longer interested in partnership aimed at establishing the proposed Nigeria Air project.


The Airlines’ Group Chief Executive Officer, Mesfin Tasew, made the announcement in Dubai, the United Arab Emirates, according to Ethiopian Tribune.


“The Nigerian government has lost interest in partnering with a foreign airline,” Tasew was quoted as saying.


This announcement comes barely two months after the Federal Government indefinitely suspended the Nigeria Air project.


Recall that the Minister of Aviation and Aerospace Development, Festus Keyamo, had on May 27, announced the indefinite suspension of the Nigeria Air project during the ministerial briefing marking the first year of President Bola Tinubu’s administration.


Keyamo criticized the deal with Ethiopian Airlines, saying that the ownership structure of the suspended airline is not beneficial to the country.


The minister added that it would be irresponsible for the Federal Government to allow a foreign entity to monopolize Nigeria’s aviation industry, thereby compromising the growth of local businesses.


In 2023, the Ministry of Aviation, under former Minister Hadi Sirika, unveiled Nigeria Air three days before the end of former President Muhammadu Buhari’s administration.


The Nigeria Air project elicited concerns among stakeholders nationwide over the ownership arrangement which gave Ethiopian Airlines a 49 per cent equity stake.


The Federal Government had a 5 per cent equity, while a consortium of three Nigerian investors had 46 per cent.


Reacting to the deal in June 2023, the House of Representatives asked the Federal Government to suspend the operations of Nigeria Air over allegations of fraud.

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