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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AFRICAN DEVELOPMENT BANK APPOINTS NNENNA NWABUFO AS VICE PRESIDENT FOR REGIONAL DEVELOPMENT, INTEGRATION AND BUSINESS DELIVERY. (PHOTO).

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 African Development Bank appoints Nnenna Nwabufo as Vice President for Regional Development, Integration and Business Delivery


The African Development Bank Group has appointed a Nigerian, Nnenna Nwabufo, as Vice- President for Regional Development, Integration and Business Delivery, with effect from October 4.


The President of the AfDB, Dr. Akinwumi Adesina, said in a statement by the bank that he was delighted with Nwabufo’s appointment.

The News Agency of Nigeria reports that Nwabufo has over 33 years of professional experience in financial management, budget planning, human resource management, corporate services and regional operations.

She joined the bank’s treasury department in 1991 and went on to hold various managerial roles, including her appointment in May 2015 as acting vice-president for corporate services.


In January 2021, Nwabufo was appointed as the Bank’s Director-General for East Africa to lead the Bank Group’s strategic objective of achieving developmental impact in the region’s 13 countries.


She demonstrated her adeptness at mobilising resources to ensure focused growth of the Bank’s sovereign and non-sovereign operations across the region.

Nwabufo holds a Bachelor of Science degree in Economics from the University of Lagos, Nigeria and a master’s degree in business administration from Henley Management College, Henley on Thames, United Kingdom.

Adesina said: “Nwabufo brings deep knowledge of the Bank, vast senior management experience in different parts of the Bank, from finance to human resources, corporate services, budget management and operations.


“Which will be highly valuable in her new role in charge of country and regional operations and offices.

“I am confident that Nnenna’s managerial and leadership skills and deep operational experience will support all the Bank’s sector vice-presidents.

“To deliver and manage their operations and portfolios more effectively on the ground, and deepen policy dialogues, across countries and regions.”

Responding, Nwabufo welcomed her appointment, saying: “I am deeply grateful to Adesina for appointing me as vice- president for Regional Development, Integration and Business Delivery.

“I look forward to working closely with the president, the boards of directors, fellow senior managers and our talented staff to continue advancing the Bank’s development mission.

“Together, we will strengthen partnerships, ensure operational efficiency, and drive sustainable, inclusive growth across Africa.”

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