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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REPS PANEL TO UMAHI: YOU HAVE NO PLAN TO FIX DEPLORABLE ROADS- YOUR PRIORITIES MISPLACED. (PHOTO).

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 Reps panel to Umahi: You have no plan to fix deplorable roads — your priorities misplaced


The house of representatives committee on Federal Roads Maintenance Agency (FERMA) has berated David Umahi, minister of works, over the state of roads across the country. 

During an interactive session on Thursday, Remi Oseni, chairman of the committee, claimed that Umahi is getting his priorities wrong.

Addressing the committee, Umahi attributed the deplorable state of roads to a dearth of resources.

The committee chairman disagreed with the minister, stating that funding is not the problem.

“You are not here to tell us what we already know in the area of resources,” Oseni said.

“So, if you are telling us the reason you have failed in fixing our road infrastructure is because of resources — don’t let me take you up on that because you concentrated your energy as a minister on less priority issues.

“Don’t discuss resources. All the roads that we have across the country have failed. If you are addressing the existing roads with the resources that you have, Hon minister, we will not be where we are. Don’t discuss resources.

“Last year, you got N300 billion supplementary budget approval. Don’t raise my emotions. I am worried that you are not concerned about fixing Nigerian roads.

“We are not here for business of whether you want to do the job or you don’t want to do the job. Stop telling us you are awarding road contracts.

“We don’t want you to be awarding roads that you are not ready to do. How can you be telling us that there are no resources? With what everybody (lawmakers) has said, it is a clue that you have no plan for us as a nation.”

Umahi has remained laser-focused on the construction of the 700km Lagos-Calabar coastal highway which is estimated to cost N15 trillion.

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