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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UMAHI ISSUES SEVEN-DAY ULTIMATUM TO JULIUS BERGER OVER ABUJA-KADUNA ROAD.(PHOTO).

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 Umahi Issues Seven-Day Ultimatum To Julius Berger Over Abuja-Kaduna Road


The Minister of Works, David Umahi, has issued a seven-day ultimatum to Julius Berger to accept the Federal Government’s offer of N740.79bn for the completion of the 82km section II of the Abuja-Kaduna-Zaria-Kano road.


The ultimatum was issued during a courtesy visit to the Minister by the new Managing Director of Julius Berger Plc, Dr Pier Lubasch, accompanied by the outgoing Managing Director, Dr Lars Richter, at the Ministry Headquarters in Abuja.


A statement later signed by the Special Adviser (Media) to the Minister of Works, Orji Uchenna, on Wednesday, said the company risks termination of the contract if it does not accept the offer.

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