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 GOING BACK ON FOREX, SUBSIDY REFORMS- FINANCE MINISTER. (PHOTO).

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 No going back on forex, subsidy reforms – Finance minister


The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says there is no going back on the current administration’s reforms in the forex and oil and gas sectors.

Edun made this known when he received the newly assigned Minister of State for Finance, Doris Uzoka Anitez at the Ministry’s headquarters, on Monday.

“Nigeria now have a foreign exchange rate that is market based and also a deregulated oil market pricing which are two reforms that are long overdue over many decades that President Tinubu is currently implementing.

“Therefore as co-ordinating minister of economy, we stand on a threshold of a new dawn to implement these reforms and increase productivity, create jobs and reducing poverty and we are glad to have a minister of state that will help in actualizing the President’s reforms,” he said.

According to him, consultation and collaboration is key to achieving these key reforms both from public and private sector, stressing that ongoing economic policies are showing sustainability and sign of success.

The Minister of State for Finance, in her response, restated her commitment to work with stakeholders in both private and public sectors to ensure economic growth is materialized.

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