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 MOVE TO AMEND PENSION REFORM ACT. (PHOTO).

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 Reps move to amend Pension Reform Act


Chairman of the House of Representatives Committee on Pensions, Husseini Mohammed Jallo, said on Tuesday that the House is planning a comprehensive review of the Pension Reform Act to bring it in conformity with modern realities. 


Speaking with newsmen in Abuja, Jallo also disclosed the committee was looking into the request by some para-military agencies who want to exit the Contributory Pension Scheme. 


Jallo said after implementing the current Pension Reform Act 2014, for two  years, there was the need to amend the law to correct some of the deficiencies in the law. 


He also disclosed that the Committee news finalising the report of its recent investigation into the administration of the Nigeria pension assets and the plight if retirees under the Contributory Pension Scheme referred to it by the House. 


He regretted that two pension fund administrators, NPC Pensions and FTC Pensions refused to appear before the committee during its two weeks investigative hearing, asking them to make these available unconditionally to answer questions from the committee.

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