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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UNIBEN PRODUCES,SHOWCASES LIGHTWEIGHT UTILITY VEHICLE.(PHOTO).

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UNIBEN Produces, Showcases Lightweight Utility Vehicle 
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A Ph.D student from the Faculty of Engineering, University of Benin (UNIBEN), Engr. Igbinosa Eghosa has produced and showcased a one-ton utility truck. 

The vehicle developed by Engr. Eghosa of the Department of Production Engineering was supervised by Professor Akaehomen Ibhadode, who also led the team to present the wonder on wheels to the University’s Management. 

Speaking during the brief ceremony, the project developer opined that the light-weight truck will re-shape and power the growth of the nation’s transport and agriculture industries. 

He added that with adequate funding, the vehicle could be produced in large quantity as the design was capable of addressing transportation needs even in local communities.

On his part, the project supervisor pointed out that over 80 percent of the materials used for the production of the truck, which runs at a maximum speed of 75klm per hour, was sourced locally. 

He said the motivation behind the project was to encourage and promote the production of low-cost vehicles with very high local content including materials and labour, in Nigeria. 

Elated, the Vice Chancellor, Professor Lilian Salami, praised the team for promoting local production through their cutting-edge innovations. 

She expressed the University’s readiness to partner with the Faculty in the production of some units of the vehicle for the Institution’s use.

-Public Relations and Protocol Unit, UNIBEN


 

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