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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BUILDING COLLAPSE: ANAMBRA GOVT CREATE NEW RULES FOR DEVELOPERS. (PHOTO).

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 Building collapse: Anambra govt create new rules for developers


After a series of collapsed building in Anambra State, which involved those of private developers, church and government projects, the state government has come up with measures to forestall further occurrences.


Awka Capital Territory Development Authority (ACTDA) in a statement signed by Town Planner Charles Ekwunife on behalf of the managing director and Chief Executive Officer of the agency, Mr Ossy Onuko said high rise buildings must undergo soil test, as it was part of the reason for the collapse of projects.


The agency in the release said: “ACTDA now directs that henceforth people should not live in or be allowed to sleep in buildings under construction and no construction work/activity should exceed 7pm, irrespective of the environmental lighting.


“All buildings (residential and commercial) exceeding two floors in Awka Capital Territory (ACT) must be backed up by a ‘soil, material and structural integrity test report.’


“All hostel buildings exceeding one floor must be backed up by a ‘soil, material and structural integrity test report’.


“Henceforth, ACTDA now directs that all building project developers are required to obtain Builder’s Liability and Public Liability Insurance before approval is granted.


“This is to safeguard both the site workers and the public around the project site in case of any eventuality, as well as protect Developers from any legal liabilities arising from any form of eventual outcome/collapse- injury, death, etc.”


The agency said it has come to their knowledge that some developers deviate from the building approvals issued to them but go on to undertake wishful project constructions.


ACTDA issued a directive saying that all buildings under construction in Awka Capital Territory must resubmit their project development approvals for revalidation and recertification.

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