News

US SEC’s Allegations Against Tingo, Untrue, Baseless – Mmobuosi

Published

2 years ago

December 22, 2023

Eric

The Founder, Tingo Group, Dozy Mmobuosi, has reacted to the allegations of fraud levelled against him and his group of companies by the United States Securities and Exchange Commission (SEC).

Mmobuosi, in a statement released on Friday, described the allegations as untrue and baseless. While noting that he would refrain from making public comments about the issues raised because it is now a matter in court, he described the accusations and allegations of wrongdoing as outlined in the civil complaint filed by the SEC on December 18 as invalid.

The Tingo founder in the statement marking his first official response since the charges were released by the SEC said:

“Mr. Mmobuosi wishes to make it unequivocally clear that these allegations are baseless and he will contest them with unwavering resolve. As this matter is currently under legal scrutiny, and following the advice of legal counsel, Mr. Mmobuosi will refrain from making any further public statements regarding this issue.

“It is Mr. Mmobuosi’s intention to address and resolve these allegations within the appropriate legal framework. He is committed to cooperating with the legal process to ensure a thorough and fair examination of the facts, which he believes will ultimately lead to his exoneration.

“We appreciate the understanding of the media and the public during this time and request respect for the legal process and the principles of justice.”

The SEC on Monday charged Mmobuosi alongside his three affiliated US-based companies, Tingo Group Inc., Agri-Fintech Holdings Inc., and Tingo International Holdings Inc., with fraud.

According to the SEC filing, the charge was in connection with an alleged multi-year scheme to inflate the financial performance metrics of these companies and key operating subsidiaries to defraud investors worldwide.

The SEC was seeking emergency relief to prevent Defendants’ continued dissemination of materially false information to investors and to protect corporate and investor assets.

The SEC’s complaint, filed in U.S. District Court for the Southern District of New York, charged all four Defendants with violating the anti-fraud provisions of the federal securities laws and additionally charged Nasdaq-listed Tingo Group, OTC-traded Agri-Fintech, and Mmobuosi with reporting, books and records, and internal controls violations.

Nairametrics

News

Ex-Cross River Gov Donald Duke Joins ADC

Published

3 days ago

January 30, 2026

Eric

Former Governor of Cross River State, Donald Duke, has resigned from the Peoples Democratic Party (PDP), formally pitching his tent with the African Democratic Congress (ADC).

Duke registered as an ADC member in Ward 5 of Calabar Municipality, where he collected his party membership card, marking his official entry into the opposition party.

His move comes amid recent internal concerns within the ADC in Cross River State. Former ADC governorship candidate, Dr Effiong Nyong, had written to the party’s National Chairman, protesting the inclusion of some individuals from the state in the ADC’s 50 Wise Men and Women Policy Manifesto Committee.

Nyong faulted a statement by the ADC National Publicity Secretary, Mallam Bolaji Abdullahi, which listed persons who, according to him, neither resigned from the PDP nor made contributions to the ADC, calling for their removal.

Political observers believe Duke’s swift formal registration may be linked to the controversy, as the former governor had earlier been named among prominent figures associated with the party.

Recall that Duke previously left the PDP for the Social Democratic Party (SDP), where he emerged as the party’s presidential candidate under controversial circumstances.

Meanwhile, ADC leaders in Bakassi Local Government Area have intensified calls on Cross Riverians to identify with the party, describing it as a credible alternative ahead of future elections.

Rising from a stakeholders’ meeting involving chapter executives, ward chairmen, and secretaries, party leaders accused the ruling All Progressives Congress (APC) of misrule and urged Nigerians to reclaim the country.

In a statement signed by the Bakassi Chapter Chairman, Emmanuel Asuquo, and Secretary, Eko Boco, the party reaffirmed its loyalty to the ADC national leadership, pledging support for the National Chairman, Senator David Mark, and National Secretary, Ogbeni Rauf Aregbesola, while urging undecided citizens to join the party’s “transformative agenda.”

News

Police Nab Suspect Behind Dummy Bomb Threat to Lagos Schools

Published

3 days ago

January 30, 2026

Eric

The Lagos State Police Command has arrested a 25-year-old man over alleged fake bomb threat messages to two private schools in Ikeja Government Reserved Area (GRA).

The suspect was tracked and arrested on January 24 in the Okota area of Lagos State following digital investigations.

According to the sources, the suspect allegedly sent WhatsApp messages threatening a fire explosion to the Human Resources Manager of AVI–CEENA School and the Chief Security Officer of Grange School, both located in Ikeja GRA.

Although the messages were sent from an unknown phone number, police said digital tracking led to the identification and arrest of the suspect, identified as Kosisochukwu Chukwuekenyem Ogbumuo.

The suspect is currently in police custody and will be charged to court on conclusion of investigations.

Police said inquiries are ongoing to determine the motive behind the threats and whether other individuals were involved.

The Lagos State Police Command reassured parents, school authorities and residents of Ikeja GRA of its commitment to maintaining security and preventing panic or disruption within the education sector.

News

Court Nullifies PDP National Convention Held in Ibadan

Published

3 days ago

January 30, 2026

Eric

The Federal High Court in Ibadan has nullified the Peoples Democratic Party (PDP) National Convention held on November 15, 2025, in Ibadan, Oyo State. The court also barred Turaki and others from presenting themselves as national officers of the party.

Despite internal disputes, the PDP went ahead with its highly anticipated two-day 2025 Elective National Convention at Lekan Salami Stadium, Adamasingba, Ibadan. Tagged #Ibadan2025, the convention drew thousands of party delegates and leaders.

The convention was expected to elect a new National Working Committee (NWC), including a National Chairman, who would steer the party ahead of the 2027 general elections. The court’s ruling casts uncertainty over the legitimacy of the leadership and raises questions about the party’s preparations for the next electoral cycle.

Party members and legal experts are now awaiting further clarification on the implications of the judgement for the PDP’s national leadership structure.