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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FG TO HAND OVER NATIONAL GRID TO INDEPENDENT OPERATORS. (PHOTO)

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 FG to hand over national grid to independent operators


The Federal Government, through the Nigerian Electricity Regulatory Commission, has said discussions are ongoing to transfer the management of the national grid to Independent System Operator in line with the provisions of the Electricity Act 2023 to engender more discipline in grid management.


NERC also revealed that an explosion incident at the Jebba transmission station was the cause of the latest national grid collapse that occurred early Saturday.


According to the commission, efforts to restore supply have progressed significantly, with power restored in 33 states and the Federal Capital Territory as of 1 pm on Saturday.


For the third time in one week, the national grid collapsed again on Saturday morning leading to a mass power outage.

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