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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SENATE DEMANDS INCREASED FUNDING FOR UNIVERSITIES. (PHOTO).

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 Senate demands increased funding for varsities


The Senate, on Tuesday, called on the Federal Government to increase budgetary allocations to federal universities in the 2025 budget to help address the brain drain plaguing Nigerian universities.


It also mandated its relevant committees to collaborate with the Ministries of Finance, Education, Health, and other relevant agencies to develop strategies to tackle infrastructural decay and improve the monthly remuneration of lecturers.


The Senate’s resolutions followed a motion sponsored by Senator Anthony Ani (APC, Ebonyi South), titled “Urgent Need to Address the Challenges of Increasing Cases of Brain Drain in the Nigerian University System.”


In the motion, Ani lamented that, according to the National Universities Commission report, many Nigerian universities operate with less than 50 per cent of the required academic staff due to brain drain.


He pointed out that the remuneration for Nigerian university lecturers was among the lowest globally, having not been reviewed in over 15 years, which no longer aligned with the current economic realities of the country.


He further highlighted that many universities in other West African countries offered better working conditions than what was obtainable in Nigeria, describing the situation as deeply troubling.

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