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TINGO: Nigeria must Protect its Own

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The Lagos financial community is on fire right now at the audacity and ease with which Financial Research company allegedly operating behind a laundry, on Coopers Street, Yonkers, New York managed to use lies an innuendo to smash, after Jumia and Opera, the price of another African tech giant, Tingo Group (TIO:Nasdaq) and run off into the darkness with over $100mn and the US Regulators were impotent and were not capable of stopping them doing it or apparently from even striking again.

That research firm publishes the Hindenburg Report, run by money tycoon Nathaniel Anderson aka the Hindenburg Hustler specialises in a technique known as “short and distort” in which he bets the price of a booming stock will collapse and then pretends to be an independent arbiter but instead pays keyboard warriors to attack chatrooms to discredit companies with fabricated evidence, fake pictures, Ai distortions and out right lies until their price collapses. He and his billionaire buddies who back him then pocket the money. A fool and his money is soon parted, is there motto.

They are so brazen that they can do this at least ten times a year, pocketing hundreds of millions of dollars. This year to make a statement and prove their power over Wall Street, they attacked Carl Icahn, the banker that the original Oliver Stone movie “Wall Street”, played by Michael Douglas, was based on. They named and shamed him in a gross public display to show that Nathan was the new King of New York.

Carl Icahn, the old icon of the GREED IS GOOD 1980s, was left spluttering :

“Hindenburg Research, founded by Nathan Anderson, would be more aptly named Blitzkrieg Research given its tactics of wantonly destroying property and harming innocent civilians. Mr. Anderson’s modus operandi is to launch disinformation campaigns to distort companies’ images, damage their reputations and bleed the hard-earned savings of individual investors,”

All fun and games for the comfortable US bankers but here in Africa the consequences are deadly serious. Tingo provides a mobile phone and the means by which 11 million farmers buy their seeds and fertiliser and sell their crops, fruit and vegetables with VISA and AFAN (government co-operative organisation). Many Tingo farmers are in states that have been badly harmed by climate change. Many rely and their families and their communities rely on Tingo. When the Hindenburg Hustler sneezes, Africa catches Covid.

Tingo is one of the few commercial enterprises that can operate in our troubled North East and have done through out the conflict providing a source of income and communication to many who are isolated or displaced. When there is no market place, their children go without healthcare and education, they can’t just slip out of their Manhattan office for a cup of Joe and a a double burger at the Inwood Grill.

The Nathans of New York do not care how Africa has relied on our African technology entrepreneurs from Mo Ibrahim to Strive Masiyiwa to pull our continent out of endemic poverty. Mobile money has transformed financial inclusion in Africa and occurred a decade before it appeared in the States. Africa can be a leader. The digital transformation of Africa is rapidly closing the gender gap and reducing poverty for all.

In December 2022, the United States launched the Digital Transformation with Africa Initiative (DTA). The US government pledged about $800mn which is much less than the value that the Hindenburg Hustler destroyed in African technology companies in a matter of days. If the US is serious in Africa about digital transformation it should use its enforcement bodies to act swiftly and close down these “short and distort” bucket shops that rely on the unconscious racial bias of many of its financial institutions to attack with impunity foreign companies who seek a listing on markets such as NYSE and Nasdaq that are promoted as being global.

The US capital markets should not portray themselves as concerned about ESG matters or United Nations special development goals, if they can not control the criminal activities of the Hindenburg Hustler operating a 20 minute drive away from the UN headquarters in New York. In the Ai age, anyone can fabricate information and then as Nathan Anderson does hide behind the free speech First Amendment and any robust institutional governance should ensure that people like him are regulated.

And they should do this not just because of the outsized effects his greed is good mentality has on ordinary Africans but also to protect those hard working Americans who invest pensions and savings to make it through their old age in the market. Hindenburg does what it does for secretive billionaire buddies. Don’t think for a second he gives a damn about smashing ordinary Americans to the kerb.

But if the regulators can not control Hindenburg, (and Gary Gensler boss of US Securities and Exchange Commission is promising to deal with the short and distorters soon) then what can Tingo and other African tech companies who wish to go to US for capital market support, do to protect themselves.

Tingo did well by calling for an independent enquiry within 48 hours of the abusive attack by Nathan Anderson. They went to one of the world’s biggest law firms White & Case. Founded in 1901 and ranked in the top law firms globally by revenue. It is their job to look at the allegations and make recommendations to the board of Tingo. Hopefully, Nathan Anderson will be forced by them to reveal who his billionaire buddies are and thereby the expose the criminal conspiracy that surrounds him.

Those companies that have escaped the clutches of the Hindenburg Hustler, include Bloom Energy, the green energy provider. Hindenburg alleged that there were undisclosed servicing liabilities that the market had overlooked and predicted that Bloom Energy was heading towards bankruptcy. Within two years of the report the company had more than doubled their share price.

In March 2021, Hindenburg Research accused Ormat Technologies, Inc. of engaging in widespread and systematic acts of international corruption. Around this time their share price moved wildly. In a short time, having thrown off these allegations, the renewable energy provider carried on as normal with its share price being pretty stable ever since.

In December 2021, Hindenburg Hustler published a report alleging that Technoglass Inc had Suspicious sales and acquisitions involving undisclosed related-party customers. They also alleged ownership of these related-party customers by family members of Technoglass’ CEO and COO. There were also accusations of significant connections to a cocaine cartel, resulting in criminal allegations. In the time since these reckless or fraudulent accusations by Hindenburg, the share price of Technoglass has tripled.

That such criminal activity against so many foreign participants from Africa, India, China and Europe can exist and thrive at the centre of the world’s largest economy and then hide behind that economy’s constitution is astounding. A potential recourse would be by our government or the African Union to the World Bank or IMF’s Financial Sector Assessment Program which can sanction America for allowing this to even occur.

The only thing necessary for the triumph of evil is for good men to do nothing, is often quoted, in instances where guys like Nathan Anderson and his billionaire buddies but Nigeria can no longer expect the good guys in the USA to do anything. We have to stand on our own two feet and protect our own. Within 25 years,
we will have population bigger than the USA.

It time for Nigeria to draw the line and say no longer will you bully our companies or belittle our leaders or impoverish our people.

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Ozekhome, Wife Josephine, Celebrate 34 Years of Marital Bliss

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By Eric Elezuo

Popular Constitution lawyer and renowned human rights activist, Prof Mike Ozekhome, and wife, Lady Josephine Ozekhome, has celebrated 34 years of living together as husband and wife.

The couple took time out to shower love, encomium and affection on each other, celebrating the goodness of Godd upon their lives and home in the last 34 years.

Speaking exclusively to The Boss, Ozekhome noted that on a day like this “I remember how we started; how we weathered the storm together, and conquered together. She is the best companion anyone can have, and I’m very proud of her, and to be her husband.”

Ozekhome once stated that his wife is “a great woman of uncommon virtues and humanity; my jewel of inestimable value, soulmate, sister, best friend and mother.”

While the wife is identified as Lady (Dr) (Senior High Chief) Josephine Mike Ozekhome LL.M, LSM, LL.D. D.Sc., the renowned constitution lawyer, a dotting and loving husband, and  firebrand pro-masses Advocate, os identified as Prof Mike Ozekhome SAN, CON, OFR, Ph.D, LL.D, D.Litt,D.Sc., among a host of other watering achievements.

Mike and Josephine have built a family of lawyers, producing wonderful children, who are also lawyers, and doctors.

Happy 34th anniversary, Mike and Josephine!

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Akpabio, Natasha Renew Roforofo Fight

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By Eric Elezuo

The war of words and legal fireworks between the senate president, Godswill Akpabio and Senator represent Kogi Central, Natasha Akpoti-Uduaghan, seems to have been rekindled following reported slamming of N200 billion suit on the Kogi senator.

Akpabio is asking the High Court of the Federal Capital Territory to award him damages over what he described as false, malicious and injurious allegations of sexual harassment levelled against him by the Kogi Central senator in media interviews and public statements.

The court filings quoted the Senate President as saying that the lawmaker’s claims subjected him to “public hatred, contempt and ridicule,” portraying him as a “sexual predator” and a leader who abused his office.

He argues that millions of Nigerians consumed the interviews and online content, causing him emotional distress and inflicting grave damage on his political and social standing.

As the reports of the court filings hit public space, Natasha swiftly responded, hinting that the action is a welcome development as it gives her the much awaited opportunity to finally present her the evidence of sexual harassment she accused Akpabio of.

“Today, being the 5th day of December 2025, I am in receipt of the newly instituted ₦200 billion suit against me.

“I am glad that Senator Akpabio has brought this up because the Senate Committee on Ethics and Privileges refused to grant me an audience, claiming the matter was already in court.

“I now have a chance to prove how I was sexually harassed and how my refusal to give into his demands unleashed a series of unprecedented attacks on my person. See you in court, Godswill Akpabio,” the Senator threatened.

Responding, the Senate President again challenged Senator Akpoti-Uduaghan to present credible evidence of her sexual harassment allegations in court rather than resorting to what he described as “staged outrage” and online theatrics.

Akpabio’s response is contained in a statement issued in Abuja by his Special Assistant on Media, Jackson Udom, where he insisted the defamation suit against Natasha was not newly filed as she claimed, but had been pending in court for three months.

The statement, titled, ‘Setting the record straight on the defamation case involving Senator Natasha Akpoti-Uduaghan’, accused the Kogi Central lawmaker of deliberately misleading the public.

He said, “Senator Natasha Akpoti-Uduaghan again resorted to social media to claim incorrectly and misleadingly that Senate President, Godswill Akpabio, had only just filed a multi-billion-naira defamation suit against her over her unfounded allegations of sexual misconduct.

“These allegations, as the public is well aware, have never been supported by a single shred of evidence before the Senate Committee or before any competent authority.

“For the avoidance of doubt, the facts are clear, verifiable, and already before the court. The suit was filed over three months ago. Its progress was temporarily delayed by routine administrative processes and the normal judicial procedures.”

The Senate President further stated that attempts by court bailiffs to serve the senator were repeatedly frustrated.

“Her claim that the matter was ‘just filed’ is therefore false, misleading, and intended to distort public understanding of the case.”

Akpabio also accused her of a pattern of public posturing.

He said, “We reiterate that legal disputes are resolved in courtrooms, not through orchestrated narratives and staged outrage on social-media platforms. The online applause Senator Akpoti-Uduaghan habitually seeks cannot replace credible evidence, legal procedure, or judicial scrutiny.

“This behaviour is consistent with her pattern during her six-month Senate suspension, an entirely lawful disciplinary measure she sought to delegitimise through digital agitation, only to ultimately serve the suspension in full.”

The former Akwa Ibom governor also challenged her to finally present her evidence before a judge.

“It is time for Akpoti-Uduaghan to present the ‘evidence’ she claims to possess before a court of competent jurisdiction, rather than relying on sensationalised commentary designed solely to attract sympathy and obscure the facts.

“The law is guided by proof, procedure, and due process, not sentiment, not emotion, and certainly not social-media theatrics. She is advised to properly instruct her lawyers, file her defence, and finally provide the evidence she purports to have for the baseless allegations she has peddled over this matter,” he noted.

Akpabio’s statement came a day after the Kogi legislator vowed to defend herself “vigorously” in court following the filing of the ₦200bn defamation suit against her — the latest escalation in a bitter standoff that has gripped the 10th Senate for months.

The Senate President accused her before the FCT High Court of making “false, malicious, and injurious” claims that portrayed him as a “sexual predator” and subjected him to public ridicule.

Akpoti-Uduaghan, confirming receipt of the suit, said she welcomed the legal battle because it would allow her to tender the evidence she was allegedly denied the opportunity to present before the Senate Ethics Committee.

Her post immediately reignited debate within political circles, with analysts describing the lawsuit as one of the most consequential confrontations between a Senate President and a sitting senator in recent years.

Natasha was suspended for six months in March 2025 after protesting the relocation of her seat during plenary. She repeatedly accused Akpabio of targeting her and once labelled him a “dictator.”

Although the suspension lapsed in September, her return was delayed by legal and administrative hurdles before her sealed office was eventually reopened by the Sergeant-at-Arms.

Upon returning, she insisted she had “no apology to tender,” accusing Senate leadership of attempting to muzzle dissent within the chamber.

Additional infor: The Punch, ThisDay

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Full Text of Gen Chris Musa’s Speech on Assumption of Office As Defence Minister

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It is with profound humility and a deep sense of responsibility that I address you today in my new capacity as the Minister of Defence of the Federal Republic of Nigeria. Six weeks ago, I was in Kaki. Now, I am coming as the Minister. It can only be God. I thank President Bola Ahmed Tinubu, GCFR, for the trust and confidence you have shown in me.

I take that very seriously. For me, it is indeed a privilege and an honour, after serving 39 years in service, to come in and now be the Minister of Defence of the Federal Republic of Nigeria. The love Nigerians have shown us reflects that people believe we can turn the tide.

But it is not rhetoric. It is by action. We must, firstly as Nigerians, take ownership of the responsibilities and challenges we face in our country.

It is only us who can solve the problem. It is when we agree within ourselves that we can deal with this, that we will succeed. God is with us, and He has always given us the responsibility to succeed.

This responsibility is one I accept with solemn reverence and unwavering commitment to the safety and security of our great nation, Nigeria. Let me also acknowledge the dedicated leadership of my predecessor and the relentless efforts of every one of you in this room.

When I was the Chief of Defence Staff, you gave me all the support, and I truly appreciate it. I want to assure you that coming back as Minister, we want to do more for your welfare, well-being, and the administration of the Ministry. I strongly believe in reward and accountability. You do well, you are rewarded. We take corrective measures to ensure we succeed. I don’t believe in “na so we dey do am.”

We must assess everything that we are doing and see whether we can improve it. I believe in fostering a positive workforce. We are going to listen to your challenges, and whatever we can do to address them, we will. But I count on you also to put in your best. You know your task ahead. You don’t have to wait until somebody calls you or asks you a question. Do what you are supposed to do, and that will make it easier for us as a nation.

The task of securing the nation is continuous, and I am aware that you have been holding the line with dedication. I commend you all. For decades, my life has been defined by uniform, by the ethos of service, and by sacred covenants to defend the territorial integrity and citizens of Nigeria. I therefore come to this role not as a stranger to our security challenges, but as a comrade who has been in the trenches both literally and figuratively. I’ve seen firsthand the bravery of our troops, the complexity of our threats, and the role of strategic coordination. Like I always say, no single individual can achieve this alone. No single service operator can do it. We must work as Nigerians, making Nigeria better.

Consequently, my core philosophy in ensuring the affairs of this ministry is simple: operational effectiveness through unified action and strategic foresight. Ladies and gentlemen, we cannot afford to operate in silos.

We cannot tolerate gaps between policy and execution, or between the ministry and the services. This ministry will be a powerhouse of strategic direction, enabling support, and relentless accountability. We must provide that support for our troops to continue to succeed. They are sacrificing their lives out there in the field—day and night, thunderstorm or windstorm—whatever the situation, to ensure that we, Nigerians, can go to bed and sleep well. We must continue to pray for them. We must continue to provide the necessary support.

Working as a team with other MDAs, Mr. President has made it very clear he will give us all the support we require and demands that we achieve success, which we have promised him. Within the first few weeks, we must show that we are committed: the ministry working inside, the troops working outside.

To translate this philosophy into action, my initial focus will rest on three interconnected pillars: enhancing joint operational strategy synergy. We will immediately begin a rigorous review of all theatre commands and inter-service operations. My door will be open, as always, to the Chief of Defence Staff and Service Chiefs for frank discussions on equipment, training, welfare, and strategy. Mr. President wants us to present our challenges, with the promise that they will be addressed. So it is left for us to do the needful.
Our goal is to overwhelm the adversaries with seamless jointness, not just cognition.

Welfare and Morale as a Force Multiplier

We all understand the importance of morale to our personnel and staff. We must therefore prioritise the timely provision of all necessary kits, ensure prompt payment of operational allowances, and vigorously address accommodation and medical care for our personnel and their families. Those not injured are watching how we treat the injured. If they are not taken care of properly, they will not give their best, because they will be apprehensive. Especially those who have lost their loved ones—the families want to know what will happen.

It is our responsibility to take care of them. The aspect of actions that impugn their integrity is not acceptable. We must make payments seamless. We must treat them with respect. Anybody who is laying down their life for their country deserves the highest respect, and that is what we offer. I will be very critical about that.

Intelligence-Driven and Technology-Enabled Defence

The Ministry of Defence is the strategic brain of our national defence architecture. We must therefore leverage technology for intelligence, surveillance, and recurring service. We have partners and allies ready to support us. We will reach out to them to work as a team. We will also collaborate with other security agencies. Every Nigerian is vital to the success of Nigeria. We will foster a culture where data and intelligence drive our decisions, not just experience alone. I charge the Ministry to be a catalyst for innovation and efficient resource management.

Distinguished ladies and gentlemen, I expect the highest standards of professionalism, integrity, and urgency from all of us. We do not have time to waste. We will continue to hit the ground running. We must respect the human rights of Nigerians. If we make mistakes, we must take necessary action to make amends. I will always encourage candid advice and robust debates. But once a decision is taken, we must move as one united team.

There will be zero tolerance for corruption, indiscipline, or indolence. Our loyalty is to Nigeria and the Nigerian people. The President is the Commander-in-Chief; the bulk stops on his table. We must provide the support required to make Nigeria peaceful.

Shedding of innocent blood is over. Our children should go back to school. Our farmers should go back to their farms. Most of the challenges we face are not military solutions—they are issues of good governance, justice, equity, and fairness, which we will encourage. Both non-kinetic and kinetic solutions must work hand in hand. We cannot afford to fail Nigerians. Charity begins at home; if we have the mindset that we will succeed, we will.

To the Service Chiefs, I offer my full support and expect your utmost cooperation to move the Armed Forces to greater heights. To the Department Secretary and the Civil Service cadre, you are the institutional memory and the framework for our sustainability. I value your expertise and count on your diligence to translate our military objectives into actionable administrative and budgetary policies.

The road ahead is demanding and will be tough. Let us not take it for granted. But because we are Nigerians, we shall overcome. The threats we face are adaptive and complex, but I have absolute faith in the indomitable spirit of our Armed Forces and the capable minds within the Ministry. With the support and prayers we are receiving from all Nigerians, we cannot fail.

In closing, let me once again reaffirm my commitment to lead with fairness, firmness, and loyalty to our Constitution. The President is doing everything possible to ensure our success. We must play our part. The task ahead is enormous, but surmountable. We can win. We will win. The good people of Nigeria are looking up to us for results, and we must deliver immediately. I am not here to preside; I am here to lead, to walk, and to deliver alongside you. I cannot do it alone. I thank you all as I look forward to our detailed work and the tasks ahead.

God bless you all, and God bless the Federal Republic of Nigeria.

Thank you.

— General Christopher Gwabin Musa (Rtd)
Minister of Defence, Federal Republic of Nigeria

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