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 URGES FED GOVT TO INITIATE POLICIES FOR LOCAL MINERS. (PHOTO).

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 Senate urges Fed Govt to initiate policies for local miners


The Senate has urged the Federal Government to initiate a policy that will protect local miners and their businesses.


The Chairman of the Senate Committee on Solid Minerals Development, Ekong Sampson, made the call when he led members of the committee on an oversight visit to the Ministry of Solid Minerals Development and some of its agencies in Abuja.


Other members of the committee on the visit included Kabeeb Mustapha (Vice Chairman – Jigawa Southwest), Minority Whip Osita Ngwu (Enugu West), Diket Plang (Plateau Central), Onyeka Nwebonyi (Ebonyi North) Mohammed Ogoshi Onawo (Nasarawa South), Prof. Anthony Ani (Ebonyi South) and Okechukwu Ezea (Enugu North).


Agencies under the ministry which the committee visited include the Nigerian Mining Cadastral Office and the Nigerian Solid Minerals Development Fund.


The Senate committee had expressed concerns about recent mining rates increase and its potential to stifle local mining investments, compared to their foreign counterparts in the sector.

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