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Breaking News: Tingo Group Announces Completion Of Investigation Into Allegations Made Against the Company
Published
3 years agoon
By
Editor
By Michael Effiong
Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech, agri-fintech and food company has announced to the international financial market that it has completed the investigation of the allegations made by short seller Hindenburg Research (“Hindenburg”), that relate directly to the Company and its businesses.
At the direction of the Company’s independent directors, independent counsel investigated certain of the Hindenburg allegations and provided the independent directors with an interim report summarizing evidence it had reviewed, along with items requiring further investigation. The Company’s outside counsel then conducted its own investigation into the allegations, which included following up on the items identified by independent counsel. Based on the Company’s outside counsel’s investigation and further investigative work of its own, the Company has concluded it can now provide the following response to the allegations in the Hindenburg report:
- Agri-Fintech Holdings, Inc. Resignation of Director: Christophe Charlier was a co-Chairman of OTC-listed company, Agri-Fintech Holdings, Inc., which sold Tingo Mobile Limited to the Company on November 30, 2022. Mr. Charlier has never been a member of the Company’s Board of Directors, nor has he been involved in the management of the Company. In his resignation letter, which was filed with the SEC, Mr. Charlier complained only of a lack of communication and teamwork at Agri-Fintech Holdings.
- Tingo Foods Revenue and Operating Margin: The revenue reported by Tingo Foods in Q1 2023 and its operating margin of 24.8 % has been confirmed.
- Tingo Foods Business Relationships: During the period from September 2022 to March 31, 2023, Tingo Foods purchased its raw crops from two organizations in Nigeria, including the All Farmers Association of Nigeria (“AFAN”), which delivered the crops to third-party food processors. Tingo Foods then sold the processed food to several large wholesalers in Nigeria.
- Food Processing Facility: The construction of the Tingo Foods processing facility in Nigeria is well underway, with food and beverage processing operations expected to commence in Q2 2024. The images and renderings used for the Foods Processing Facility’s groundbreaking ceremony in February 2023 and in early presentational materials were stock images provided by an external marketing company, whereas specific renderings of the actual facility are currently being utilized. The Company has contracts in place with the construction company for the project and with Evtec Energy Plc and TAE Power Solutions Limited for the construction of a solar power plant to power the processing facility. Evtec Energy Plc is a special purpose vehicle for the project, whereas TAE Power Solutions Limited is a part of a multinational group that has been trading for more than 25 years.
- Tingo Foods Sale of Inventory: The inventory held by Tingo Foods at the time it was purchased by the Company in February 2023 was sold to a customer on March 20, 2023, the proceeds for which were received on June 29, 2023.
- Tingo Mobile Business Relationships with Farming Organizations: Tingo Mobile leases mobile phones to four co-operatives and farming organizations: the Kebbi (Dala) Multi-Purpose Cooperative Society (“Kebbi”), the Ailoje Royal Farms Multi-Purpose Cooperative (“Ailoje”), the All Farmers Association of Nigeria (“AFAN”), and the Ashanti Investment Trust (“Ashanti”). The two farming cooperatives referenced in the Hindenburg report were Kebbi and Ailoje, to which Tingo Mobile has leased 4.5 million and 4.844 million phones respectively. The relationships with all the co-operatives and farming organizations have been confirmed.
- Mobile License: Tingo Mobile does not directly provide airtime and data services on the phones it leases to customers, or through its Nwassa platform. Such services are currently provided by a third-party vendor. Tingo Mobile therefore does not require a Mobile License from the Nigerian Communications Commission. This arrangement allows Tingo Mobile’s customers to choose the best network provider for their location from Airtel, MTN, 9 Mobile and Globacom. Tingo Mobile earns a commission on the airtime and data services purchased by its customers, which it receives from its vendor, and which were previously received from Airtel.
- Tingo Mobile’s Phone Suppliers: Since 2020, Tingo Mobile has purchased mobile phones from two suppliers: UGC Technologies Limited, with which it has had a contractual relationship since December 2020, and Bullitt Mobile, with which it has had a distribution agreement since February 2022.
Hindenburg contacted a company called UGC Mobile Technologies in the U.S., not Tingo Mobile’s supplier, UGC Technologies Limited, which has offices in Africa and China. Tingo Mobile has purchased almost all its mobile phones from UGC Technologies Limited to date, with only a small purchase of 1,000 units of Caterpillar branded phones from Bullitt Mobile in 2022.
- Tingo Mobile’s Taxes: On April 7, 2023, Tingo Mobile paid in full to the Nigeria Federal Inland Revenue Service (“FIRS”) its corporate income tax (“CIT”) and Tertiary Education Tax (“EDT”) for the fiscal year 2022.
- Tingo Mobile Ghana: The Company’s recently established operations in Ghana are currently conducted exclusively through its trade agreement with the Ashanti Investment Trust. The Company leases mobile telephones to individuals introduced through the Ashanti Investment Trust and such customers also have access to Nwassa. The sim cards, airtime and data are sold to customers through a third-party vendor, as a result of which Tingo Mobile is not required to have a license with the National Communications Authority in Ghana. Tingo Mobile does not currently deal with or accept any new customers other than through its relationship with the Ashanti Investment Trust, it is however preparing to further expand the company’s business in Ghana and is currently recruiting a workforce and building a website to assist in facilitating this.
- TingoPay: Tingo Mobile entered into a partnership with Visa on September 27, 2021, subsequent to which it has hosted several joint events with Visa, and it also launched a beta version of TingoPay with Visa on February 14, 2023. Prior to contracting with Visa, Tingo Mobile entered into a strategic partnership agreement with Stanbic Bank, dated November 17, 2020, and work was undertaken by the parties to develop an integrated e-wallet solution. After a disagreement over the Tingo Mobile press release in April 2021, the partnership with Stanbic Bank ceased and Tingo Mobile instead entered into the partnership and e-wallet integration with Visa.
- Tingo Mobile’s NWASSA Platform: The Nwassa USSD platform is pre-loaded on the Tingo Mobile phones that are leased to the cooperatives and their farmers. Other individuals that have their own mobile phone can also register on the Nwassa USSD platform and conduct transactions on the platform. The Nwassa platform can be used by farmers to purchase items such as farming inputs, insurance, micro-loans, or additional airtime. The transactions made through Nwassa are processed by a third-party payment processing company owned by an American multi-national fintech company, which collects a commission payment on behalf of Tingo Mobile on each transaction and remits the commissions to its bank account. Tingo Mobile has confirmed its Q1 2023 reported revenue from the NWASSA platform.
- Tingo DMCC: Tingo DMCC is the Company’s new agricultural export business. As of June 30, 2023, Tingo DMCC had conducted three export sales transactions totaling $348 million with customers located in neighboring countries within Africa. Tingo DMCC currently conducts its business through its direct contacts and sales leads. It is, however, in the process of developing a separate website for use in the future.
- Financial Statement Errors: The “errors” identified by Hindenburg in Tingo Group’s financial statements and MD&A in its year-end 2022 Form 10-K and Q1 2023 Form 10-Q were typographical errors that were obvious to the reader from the remainder of the numbers and other information.
All the information required to be disclosed relating to Certain Relationships and Related Transactions (including the acquisition of Tingo Mobile on November 30, 2022), and Director Independence, was included in the Form 10-K.While the Company’s cash-flow statement inadvertently labeled an increase in trade receivables as a decrease, the numbers themselves were correct. The discrepancies Hindenburg identified between the change in receivables reported on the balance sheet and change in receivables reported in the cash flow statement reflect Hindenburg’s misunderstanding of the numbers and the relevant U.S. GAAP accounting standards, including in relation to how the business combinations that closed during the relevant accounting periods impacted the numbers. In both cases, the “difference” resulted from non-cash adjustments related mainly to the Company’s acquisition of Tingo Mobile in Q4 2022 and its acquisition of Tingo Foods in Q1 2023, all of which were correct.
- Independent Auditors: The engagement with Brightman Almagor Zohar & Co., a firm in the Deloitte Global Network, was after consideration of the relevant factors regarding the location of auditors. Such factors included that the Company does not have any operations in the U.S., and the consolidation process and preparation for the group’s financial statement and SEC filings is performed by the Company’s finance function in Israel.
- Bank Balances: Bank statements were obtained directly from the banks used by Tingo Mobile and Tingo Foods, and interviews with the banks were conducted over video conference calls. The bank balances of each company were confirmed at several dates, including at the Quarter End dates of March 31, 2023, June 30, 2023, and as late as August 3, 2023, which reconciled and agreed to each company’s accounting records and financial statements.
Tingo Mobile earns interest only on funds held in a fixed deposit account. Due to its cash needs from time to time, Tingo Mobile is unable to encumber a large portion of its funds in a fixed-deposit account that would earn interest.
Having concluded the investigation into the allegations made by Hindenburg against the Company and its businesses, which was deemed to be the highest priority, the Company and its outside counsel will now proceed to investigate Hindenburg’s allegations against the founder of Tingo Mobile and Tingo Foods, Dozy Mmobuosi.
About Tingo Group
Tingo Group, Inc. (Nasdaq: TIO) is a global Fintech and Agri-Fintech group of companies with operations in Africa, Southeast Asia and the Middle East. Tingo Group’s wholly owned subsidiary, Tingo Mobile, is a leading Agri-Fintech company operating in Africa, with a comprehensive portfolio of innovative products, including a ‘device as a service’ smartphone and a value-added service platform. As part of its globalization strategy, Tingo Mobile has recently begun to expand internationally and entered into trade partnerships that are contracted to increase the number of subscribed farmers from 9.3 million in 2022 to more than 32 million, providing them with access to services including, among others, the Nwassa ‘seed-to-sale’ marketplace platform, insurance, micro-finance, and mobile phone and data top-up. Tingo Group’s other Tingo business verticals include: TingoPay, a SuperApp in partnership with Visa, that is currently in beta version, offering a wide range of B2C and B2B services including payment services, an e-wallet, foreign exchange and merchant services; Tingo Foods, a food processing business that processes raw foods into finished products such as rice, groundnut oil, nut products, wheat, millet and maize; and Tingo DMCC, a commodity trading platform and agricultural commodities export business based out of the Dubai Multi Commodities Center. In addition to its Tingo business verticals, Tingo Group also holds and operates an insurance brokerage platform business in China; and Magpie Securities, a regulated finance services Fintech business operating out of Hong Kong and Singapore. For more information visit tingogroup.com
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“To God be all the glory and adoration for His wondrous works and abundant blessings once again.
The announcement has drawn congratulatory messages from admirers and members of the Yoruba royal institution celebrating the arrival of the newborn princes.
After his marriage to Naomi Silekunola ended, the Ooni married several queens within a short period in 2022.
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“Siddon Look” Policy of Chief Bola Ige As a Panacea for Nigeria’s Current Democratic Malaise
Published
1 week agoon
May 15, 2026By
Eric
By Hon. Femi Kehinde
Chief James Ajibola Idowu Ige, SAN, popularly known as the “Cicero of Esa-Oke,” was one of Nigeria’s most influential legal minds and political figures. He was a master orator, a Senior Advocate of Nigeria (SAN), and a key player in both the First and Second Republics. He had seen and fought many political battles in his lifetime.
In the first Republic, during his tumultuous period, he was the Federal Publicity Secretary of the Action Group in 1962. He was affable, charismatic and a consummate lawyer. He was a polyglot and had seen many wards of the Nigerian prison, but was never battle weary. As a democrat per excellence and an Awoist, who believed in a just, humane and egalitarian society, he lived his life within the ambience of those principled stance until he was murdered in his Solemilia Court home in Bodija, Ibadan on the 23rd December, 2001. Through his political binoculars, he could easily discern what may not be easily discernible by ordinary eye.
The Military overtook the democratic government of Nigeria on the 31st of December, 1983, and thus the collapse of the Second Republic, of which Bola Ige had been a prominent political player as the first democratically elected Executive Governor of Oyo State from the 1st October, 1979 to 30th September, 1983. He was subsequently clamped into various prison wards in Nigeria by the military government of General Muhammadu Buhari as Head of State.
After release from prison by the military government of General Ibrahim Babangida, Bola Ige, perhaps from the benefits of hindsight, refused to participate in the various transition programs of the military government, because he knew it would hit a Cul de sac, and rather would according to him, siddon look -(Sit down and look).
This “Siddon Look” policy was a strategic political stance adopted by Chief Bola Ige,during the transition program of General Sani Abacha in the mid1990s.This phrase, derived from the Nigerian Pidgin English “sit down and look,” perfectly captured a philosophy of tactical withdrawal and passive observation in the face of what Ige viewed as a fraudulent democratic process.
During the 1990s, General Sani Abacha initiated a transition-to-civil-rule program. However, many political observers and pro-democracy activists believed the process was designed to fail or to eventually “self-succeed” Abacha as a civilian president. This era was marked by the presence of five political parties, often mockingly referred to by Chief Bola Ige as the “five fingers of a leprous hand”, that were widely seen as subservient to the military junta.
Bola Ige, a staunch Awoist and leader within the Pan-Yoruba group Afenifere, refused to participate in the elections. His policy was built on several key principles.
Ige argued that engaging with the Abacha transition would lend legitimacy to an insincere and undemocratic process.Instead of active rebellion, which often led to imprisonment or exile during that regime, he advocated for staying quiet, observing the unfolding events, and waiting for the inevitable collapse of the flawed system. By “sitting down and looking,” Ige and his associates maintained their political integrity, positioning themselves as the alternative leadership once the military eventually exited.
The policy became a defining characteristic of the progressive opposition in Nigeria at the time. While some critics argued that it left a vacuum for less-principled actors to fill, Ige’s foresight was largely vindicated when the transition program ended abruptly with Abacha’s death in June, 1998.
Following the transition to the Fourth Republic in 1999, the “Siddon Look” practitioners emerged with their reputations intact, allowing Ige to play a central role in the formation of the Alliance for Democracy (AD) and subsequently serve as the Attorney General of the Federation.
Interestingly today, the term remains a part of the Nigerian political lexicon, used to describe a deliberate choice to remain neutral or observant during a suspicious or chaotic event.
At the last convention of the Unity Party of Nigeria (UPN) held in Abeokuta on the 15th December 1983, Chief Obafemi Awolowo, a sage, philosopher, clairvoyant and visionary leader, bemoaning the fate of democracy in Nigeria, of which he had been a key player for almost five (5) decades, made an epochal speech that was purely valedictory and instructive.
The speech was delivered in the wake of the controversial 1983 general elections, where the UPN had lost to the ruling National Party of Nigeria (NPN) amidst widespread allegations of electoral malpractices.The NPN had become a behemoth capturing virtually all the states of Nigeria. The speech is often cited for its sharp critique of the Nigerian political state and its warning of impending instability.
Awolowo expressed deep disillusionment with the democratic process as it was then being practiced. He remarked:
“I do fervently and will continue fervently to pray that I may be proved wrong. But the present twilight of democracy, individual freedom, and the rule of law will change or might change into utter darkness. But after darkness, and this is a commonplace, comes a glorious dawn. It is, therefore, with a brave heart, with confident hope, and with faith in my unalterable destiny, that I go from this twilight into the darkness, unshaken in my trust in the Providence of God that a glorious dawn will come on the morrow.
“For something within me tells me, loud and clear, that we have embarked on a fruitless search. At the end of the day, when we imagine that the new order is here, we would be terribly disappointed.
In other words, at the threshold of our new social order, we would see for ourselves that, as long as Nigerians remain what they are, nothing clean, principled, ethical, and idealistic can work with them.
I venture to assert that the ills of the nation will not be exorcised, and indeed they will be firmly entrenched, unless God Himself imbues a vast majority of us with a revolutionary change of attitude to life and politics… or unless we succumb to permanent social instability and chaos.”
On the moral Crisis of the leadership, Awolowo argued that the failure of the Second Republic was not just a failure of the ballot box, but a failure of character:
“It is a sad and painful thing to observe that, in our country today, the more highly placed a man is, the more likely he is to be a liar, a cheat, and a deceiver. We have reached a stage where truth is regarded as an enemy, and where the man who speaks it is hounded as a rebel or a nuisance.
As long as we continue to elevate mediocrity and corruption over merit and integrity, the search for a stable democracy will remain an exercise in futility. We must realize that no constitution, however perfect, can work in the hands of men who have no conscience.”
One of the most technical parts of the speech dealt with the mismanagement of the national treasury. He warned that the “landslide” victory would lead to a “landslide” economic collapse:
“I have warned before, and I warn again: our economy is bleeding to death. The reckless spending, the unbridled importation of luxuries, and the total neglect of our productive sectors have brought us to the brink of a precipice.
The current administration (NPN) has turned our foreign reserves into a personal fund for a few. Very soon, the naira will lose its value, and the common man, who was promised ‘Green Revolution’ rice, will find that he can no longer afford to even smell it. The day of reckoning is not years away; it is at the door.”
On the Future of the UPN and His Own Role, as many were calling for him to lead a protest or an insurrection, Awolowo’s paragraphs took a more philosophical, almost valedictory tone:
“Some of you ask, ‘Papa, what do we do now?’ My answer is simple: remain steadfast in the truth. We in the UPN have played our part. We have offered the people Free Education, Free Health, and Integrated Rural Development. If the people have been robbed of these, the responsibility lies with the robbers, and the consequence will be borne by the nation.
I have fought the good fight. I have finished my course. Whether I am here to see the new social order or not, I am satisfied that the seeds we have sown are imperishable. They will grow, and they will flourish, long after the noise of today’s ‘winners’ has been silenced by history.”
Awolowo furthered in his 1983-period reflections by predicting that the people would eventually reclaim their destiny:
“A time will come when the misery of the people will become unbearable, they will then rise by themselves to demand a redirection of their destinies.
My adversaries might say, ‘Who am I to think that if I am sidelined the country might suffer?’ The point, of course, is that the spirit of man knows no barrier, never dies, and can be projected to any part of the world. I am confident that the ideals of social justice and individual liberty which I hold dear, will continue to be projected until they are realized in our lifetime.”
He ended the speech with a call to personal resilience, moving from the political to the spiritual:
“Let no man’s heart fail him. The history of the world is a history of the struggle between light and darkness. For now, the darkness seems to have the upper hand. But I tell you, even in this gloom, I see the rays of a glorious dawn.
My trust in the Providence of God is unshaken. I go into the twilight with a clear conscience, knowing that I have never once compromised the interests of the common man for a mess of pottage. To God be the glory.”
Some few years thereafter, specifically on the 9th of May, 1987, Chief Obafemi Awolowo passed on to join the saints triumphant at the age of 78 years, as if he had lived for a century in the service of mankind. His good deeds still lives after him.
In this present Nigeria political conundrum, the voice of Obafemi Awolowo still echoes and reverberates. The Nigerian political space, in its present disillusionment, still remains a huge cause for concern to every discerning mind.
Oyelagbawo Comprehensive High School is a secondary educational institution located in the Babalomo community within the Ifelodun Local Government Area of Kwara State, Nigeria. The School was patterned after the popular Comprehensive High School, Ayetoro, in present day Ogun State, that was established in 1963, by the United States Agency for International Development (USAID), the Ford Foundation, the defunct Western Region Government, through the ideas of the founding Fathers- Chief B. Shomade and Dr. Adams Skepson.
However, the name of the school “Oyelagbawo”- Elders are usually far-sighted, and its choice of location “Babalomo”- God knows, are very instructive to our present political malaise as a search point and the need for elders’ introspective look into our present political firmament. What an elder sees while sitting down, a young man from the rooftop of a twenty-five (25) storey Cocoa House, Ibadan, may certainly not see it.
With the monstrous Independent National Electoral Commission (INEC), one would still insist that fair play is lost when in a football match between IICC Shooting Stars FC Ibadan and Rangers International FC Enugu. The IICC Shooting stars FC Ibadan is asked to pick the Referee for the match. Oyelagbawo!
In the Yoruba epic film, “Saworoide”, the centerpiece of Tunde Kelani’s 1999 masterpiece, is the mystical talking drum adorned with brass bells, which gives the movie its name- “Saworo” meaning brass bell” and “Ide” meaning brass.
In the fictional town of Jogbo, this drum is much more than a musical instrument. It is a sacred tool of political accountability and spiritual law. The drum acts as a check and balance system.
In Saworoide, the late Alagba Adebayo Faleti plays the character Baba Opalaba, the palace bard and official praise singer, Akigbe to the King of Jogbo. While his role begins as a traditional functionary of the court, it carries significant weight in the film’s exploration of power, ethics, and the duty of the intellectual.
As the palace bard, Baba Opalaba is the custodian of the town’s oral history. He doesn’t just sing praises; he recites the Oriki (lineage epithets) that reminds the King of his ancestors and the weight of the crown. His presence gives the monarchy its cultural legitimacy, framing the King’s authority within the long-standing traditions of Jogbo.
In Yoruba palace culture, the bard is one of the few people allowed to speak truth to power, albeit through metaphors and proverbs. Faleti portrays Opalaba with a quiet, observant dignity. He witnesses Oba Lapite’s descent into corruption and greed. Through his chants, he often inserts subtle warnings or reminders of the “Saworoide” pact, signaling that he knows the King has bypassed the sacred rituals.
One of the most poignant aspects of Faleti’s role is the depiction of the internal struggle of the courtier. He is part of the system, but he is not of the corruption. He serves the “Throne” rather than the “Man”. When Oba Lapite attempts to consolidate power through violence and theft, Opalaba’s discomfort is visible. He observed in a solemn voice and measured tone-
“Yo ma leyin
Oro yi yo ma leyin.
Ajan ti ele…”
That is, a great repercussion is imminent.
He represents the traditional elite who must navigate staying alive under a tyrant while trying to preserve the integrity of the culture they represent.
Beyond the script, Adebayo Faleti was a legendary Yoruba scholar, poet, and actor in real life. His casting brought an unmatched authenticity to the film. His command of the Yoruba language, the nuances, the tonal poetry, and the deep idioms, elevated the movie from a standard drama to a high-art cultural document.
When he speaks or chants in the film, he is not just acting; he is demonstrating the actual power of the Yoruba oral tradition to command attention and respect, even in a palace filled with soldiers and politicians.
Ultimately, Faleti’s role serves as a bridge between the mystical world (the drums and the crown) and the political world. He is the “memory” of the state, reminding both the audience and the characters that while kings may come and go, the culture and the consequences of their actions remain.
In a broader sense, the Saworoide is a powerful allegory for transparency and the power of the collective voice. Even today, it remains one of the most culturally significant symbols in Nigerian cinema, representing the idea that no leader, no matter how powerful, is above the “drums” of public accountability.
In a chanced encounter with Alagba Adebayo Faleti at the Solemilia Court home of Chief Bola Ige, Bodija, Ibadan, in February, 1999, I had a raw experience of Faleti’s interventionist role in human conduct as a soothsayer. Chief Bola Ige was meant to travel abroad and was to leave Ibadan that morning to Lagos. It was few days to the Presidential primary of the Alliance for Democracy (AD) of which Bola Ige and Olufalaye were contestants.
A leader in my constituency, Bashorun Saliu Akanni, had informed me of the need to pick him from Oluponna to Ibadan to see Chief Bola Ige before he travels to Lagos that morning for his intending trip abroad. According to him, he had some words of advice for Chief Bola Ige and he wished that I listen to the conversation. Dutifully, I picked him up and we arrived Chief Bola Ige’s house few minutes to 8:00 o’clock in the morning. Chief Bola Ige was ready for the trip to Lagos and we met him at the antic sitting room. Bashorun Akanni told Chief Bola Ige of his mission and gave him a letter and also repeated the content of the letter. In the letter, he advised Chief Bola Ige to shelve his proposed trip abroad to a later date after the presidential primary of the AD.
We were on this brief discussion when Alagba Bayo Faleti breezed into the antic sitting room. Bola Ige welcomed him enthusiastically and said “Seriki, o ma ku ojo meta. I’m on my way out of Ibadan for a trip to the United States”. And Seriki replied him, “Exactly! That was why I came around this morning to advise you against your trip abroad, and to delay your trip ‘til after the outcome of your presidential primary of the AD”. Bashorun Akanni, Chief Bola Ige and myself were surprised that Seriki was on the same direction with Akanni.
The outcome of the presidential primary did not favour Chief Bola Ige and he was already abroad. My respect for Oloye Bayo Faleti blossomed after the outcome of the AD primary presidential election at the D-Rovans Hotel, Ibadan, where majority of the members of the Electoral College were Bola Ige’s bosom friends and loyalists. Oyelagbawo!
May the sacred voice of our Elders now provide for us a complete direction, otherwise we may all echo the words of Professor Olarotimi in his epic play “Our Husband Has Gone Mad Again”!
Hon. (Barr.) Femi Kehinde, MHR is a
Former Member, House of Representatives, National Assembly, Abuja (1999-2003), representing Ayedire-Iwo-Olaoluwa Federal Constituency of Osun State and Principal Partner, Femi Kehinde & Co. Solicitors, Ibadan, Oyo State
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Tinubu Forced Obi, Kwankwaso to Work Together – Dele Momodu
Published
2 weeks agoon
May 7, 2026By
Eric
A chieftain of the African Democratic Congress, Dele Momodu, has claimed that President Bola Tinubu is the one who forced opposition leaders such as Peter Obi and Rabiu Kwankwaso into working together ahead of the 2027 elections.
In an interview on Channels Television on Wednesday, Momodu argued that the current unity among some opposition figures is not born out of genuine long-term commitment but is a reaction to pressure from the ruling government.
“Tinubu forced all of them together. And that is why they all moved in one direction. Which would have been beautiful, because it would have been like a two-party race,” Momodu said.
The publisher of Ovation International made the comment while reacting to the defection of Obi and Kwankwaso to the Nigeria Democratic Congress.
Obi, the 2023 Labour Party presidential candidate, dumped the ADC on Sunday alongside former New Nigeria People’s Party presidential candidate, Kwankwaso, citing legal disputes within the coalition and a toxic political climate.
The move sparked debate about a possible joint presidential ticket between the two opposition figures in the 2027 election.
Momodu, however, warned that the political situation has changed significantly since the 2023 election and cautioned against assumptions of automatic voter retention for major candidates.
“Are you saying that Tinubu will retain all the 8 million plus people that voted for him last time? How are you sure… What is the guarantee that Obi and Kwankwaso are the only people who will retain all those who voted for them last time? The situation has changed,” he queried.
Momodu added that if Tinubu allows a free and fair election, “he might not even get 3 million votes.”
He cited the poor performance of some G5 governors who could not secure senatorial seats in their states, including Enugu, Abia, and Benue, as evidence of shifting voter loyalty.
On coalition talks, the ADC chieftain said his party remains focused and steadfast.
He welcomed those willing to join but rejected any form of blackmail or the idea that victory depends on a single individual.
“Those who want to join should join. Those who do not want to join, you cannot succumb to blackmail. That only one man can make us win,” he declared.
He noted that the 2019 alliance between Atiku Abubakar and Obi did not produce victory, while their separate contests in 2023 also failed to unseat the ruling party.
He advised political actors to remain calm, quoting his late unlettered mother: “Stop running from whatever is chasing you, because you might run into what is chasing you.”
He wished the former Anambra governor well in testing his popularity elsewhere and stressed that no one should be forced out of the race based on one person’s claims.
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Economy4 days agoDangote Refinery Files Lawsuit Against FG, NNPC, Marketers over Petrol Import Licences

