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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NO PLAN TO CEDE LG FUNDS- ABIA GOVT REPLIES NLC. (PHOTO).

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 No plan to cede LG funds – Abia government replies NLC


The Abia State Government has reacted to the letter sent to the Speaker of Abia State House of Assembly and jointly signed by the state chairman and secretary of the Abia State chapter of the Nigerian Labour Congress, NLC, where the organised labour alleged that there’s a bill sent to the State House of Assembly by the executive seeking to cede 90 per cent of local government funds to the State leaving the LGAs with 10 per cent.


In a statement signed by Ferdinand Ekeoma, Special Adviser to the Governor on Media and Publicity, the Abia State government described the letter as disrespectful and baseless.


He said that at no time did the executive arm of government send any bill to the Abia House of Assembly seeking to get 90 per cent of LGA allocation ceded to the state.


According to the statement: “We challenge the NLC leadership who obviously fell prey to the mischievous and unsubstantiated fake news being circulated by some opposition elements in the state, to provide any documentary evidence to back up its claim.


“Shouldn’t a reputable body like the NLC have written a letter of clarification to the House to obtain the correct information instead of hastily rushing to the media to misrepresent the government and disinform the public?


“Shouldn’t the authors of the letter have been more careful, more cautious and more informed before speaking on the issue?”


Ekeoma said that the Deputy Speaker of the Abia State House of Assembly, Austin Okezie had already dismissed such speculation earlier in the week.


The state government cautioned the leadership of NLC against exhibiting what it called unprovoked hostile and malicious disposition based on rumour.

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