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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CUSTOMS FACILITATES FIRST SHIPMENT FROM NIGERIA TO KENYA UNDER AFCFTA.(PHOTOS).#PRESS RELEASE

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 Customs Facilitates First Shipment from Nigeria to Kenya Under AfCFTA


The Nigeria Customs Service (NCS) has facilitated Nigeria's first shipment to Kenya, with Lucky Fibres, a subsidiary of the Tolaram Group, becoming one of the first companies to ship goods to Kenya under the African Continental Free Trade Area Agreement (AfCFTA).


During a visit to the Apapa Area Command on Wednesday, 30 October 2024, to ensure proper documentation and verification of the shipment, Olusegun Olutayo, Senior Trade Expert and Lead of Trade Enablement at the Nigeria AfCFTA Coordination Office, noted that the shipment from Nigeria to Kenya, specifically to the port of Mombasa, demonstrates the collaborative spirit of AfCFTA.


"It is not that we are doing it alone; I have already sent a message to the Secretariat in Ghana that there will be a shipment under AfCFTA to Kenya. I have also communicated with the AfCFTA implementation committee in Kenya. So this is the spirit we are building to ensure that we increase intra-African trade," Olutayo noted.


He emphasised the critical role of the service as the Designated Competent Authority (DCA) under AfCFTA, leveraging its expertise to ensure seamless trade.


"The Nigeria Customs Service has been fantastic; they are ready to facilitate trade. Once they hear that there is an issue, particularly around AfCFTA, you will see everybody ready to support and facilitate it, which is the essence of true trade facilitation."


Assistant Comptroller Olusola Salako, the releasing officer for Lilypond Export Command at Apapa Area Command, highlighted the Nigeria Customs Service's efforts to leverage technology to ensure that AfCFTA is successful in Africa.


"The service has aligned with the mandates of the World Customs Organisation to prioritise the importance of trade. Gone are the days when we experienced issues. Today, we have a Unified Customs Management System (UCMS). With trade becoming more global, we went back to the drawing board and improved our technology, which will help us facilitate trade.


"The service is already in top gear; officers have been trained, and we have dedicated officers, senior officers, and releasing officers for this particular export procedure—not limited to AfCFTA alone—and we also have dedicated ports," Salako concluded.

More photos below.






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