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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OIL THEFT: IGP APPOINTS NEW COMMANDER FOR PETROLEUM TASK FORCE, RESTRUCTURES TEAM FOR EXCELLENT SERVICE DELIVERY. (PHPHOTO). #PRESS RELEASE.

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 PRESS RELEASE


OIL THEFT: IGP APPOINTS NEW COMMANDER FOR PETROLEUM TASK FORCE, RESTRUCTURES TEAM FOR EXCELLENT SERVICE DELIVERY



Speaks Tough on Economic Sabotage.


The Inspector-General of Police, IGP Kayode Adeolu Egbetokun, Ph.D., NPM, in his continuous effort to combat pipeline vandalism and oil theft, has appointed Deputy Commissioner of Police, DCP Bayonle Kafar Sulaiman, as the new Commanding Officer in charge of the Inspector-General of Police Special Task Force on Petroleum And Illegal Bunkering (IGP-STFPIB).


The new Commander, who has exhibited his prowess in similar taskforce operations, was previously Squadron Commander, Police Mobile Force 20, Lagos. As Commanding Officer of the IGP-STFPIB, the IGP has ordered him to lead the task force on the mission to combat illegal activities in the petroleum industry, including oil theft, illegal bunkering and pipeline vandalism. 


The Inspector-General of Police has also condemned in serious terms the trend of oil theft, pipeline vandalism, and illegal bunkering which pose significant threats to the environment, economy, and energy security. He emphasized that these illegal activities not only result in significant financial losses but also devastating environmental consequences, including oil spills, pollution, and habitat destruction. He orders the Commander to hold firmly the reins of the office and ensure deterrence by prosecuting all individuals found culpable, and deploy his assets to prevent economic sabotage in the upper and downstream of our oil sector in Nigeria.


The IGP further appeals to all relevant stakeholders in the oil industry and well-meaning Nigerians to work hand-in-hand with the Police and other security agencies to collectively curb this menace and share credible intelligence with security agencies to expose any untoward plans promoting this crime and others alike in the country. 


ACP MUYIWA ADEJOBI, mnipr, mipra, fCAI,

FORCE PUBLIC RELATIONS OFFICER,

FORCE HEADQUARTERS,

ABUJA.


18TH JULY 2024

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