News
US SEC’s Allegations Against Tingo, Untrue, Baseless – Mmobuosi
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
Obi Has Offered to Meet Farotimi’s Bail, Says Tanko Yunusa
The presidential candidate of the Labour Party in the 2023 general elections, Mr. Peter Obi, has offered to meet the bail conditions of human rights lawyer, Mr. Dele Farotimi, according a statement by Tanko Yunusa, on X.
An Ekiti court has said Farotimi can be released on bail in a case where he’s accused of damaging Afe Babalola’s reputation.
The bail requirements are as follows: N30 million bond, two people to vouch for him (and one must own a house), give up his passport, and agree not to talk to the media.
Yunusa, who is an ally of the former presidential candidate, wrote that Obi believes in following the law and wants to see this situation resolved in a way that works for everyone.
Yunusa quoted Obi’s offer directly: “I consulted His Excellency, Peter Obi, as the leader of the Obidient Movement. As a respecter of the rule of law, due process, and order, he offered to take Dele Farotimi on the bail conditions.”
Yunusa also mentioned that Obi thanked the courts and everyone involved, saying Obi wants to see the situation resolved fairly for all parties while respecting the legal system.
News
Ekiti Court Grants Dele Farotimi N30m Bail
A magistrates’ court sitting in Ado-Ekiti, the Ekiti State capital, has granted N30 million bail to embattled lawyer and human rights activist Dele Farotimi.
At the hearing of the bail application on Friday, Magistrate Abayomi Adeosun ruled in favour of Farotimi’s bail request.
The magistrate stipulated that the bail conditions included two responsible sureties and required Farotimi to surrender his international passport to the court. Additionally, he was instructed not to grant media interviews while the case was ongoing.
The Ekiti Police Command had arraigned Farotimi following a petition from an elder statesman and Senior Advocate of Nigeria, Afe Babalola, who accused the activist of criminally defaming him in his recently-released book.
News
Ooni Commiserates With Families of Slain Ibadan Stampede Children, Stands with Embattled Ex-wife
The Ooni of Ife, Oba Adeyeye Ogunwusi, has commiserated with the families whose children died in the stampede during a funfair in Ibadan, the Oyo State capital, on Wednesday.
“We share in the grief and pains that have engulfed the affected families. We pray that Olodumare grants them the fortitude to bear this trying time,” the monarch’s spokesman Moses Olafare said in a statement on Thursday.
At least 35 persons have been confirmed dead in a stampede that occurred at the Islamic High School, Basorun, Ibadan venue of the family event organised by Wings Foundation owned by a former queen at the Ooni’s Palace, Naomi Ogunseyi.
The police have arrested the ex-wife of the monarch and seven others for their various involvements in the funfair.
The police said the case has been transferred to the Homicide Section of the State Criminal Investigation Department, Iyaganku with a Deputy Commissioner of Police in charge leading the investigation.
Ooni’s spokesman expressed sympathy with the Government of Oyo State and the families of the children whose lives were lost in the tragedy.
The Palace also showed solidarity with the ex-queen, saying she genuinely cared for children and organised similar events in Osun State when she was queen.
The Palace spokesman said, “While at the Ile Oodua here as a queen, Miss Naomi Silekuola Ogunseyi demonstrated love and care to the children of Ile-Ife through similar events which she executed passionately to give succour to children of indigent parents every December period like this.
“The House of Oduduwa pledges to support all efforts aimed at bringing solace and healing to those affected by this devastating loss.
“The House of Oduduwa calls for immediate actions to prevent such unfortunate incidents in the future, emphasizing the need for rigorous adherence to safety standards and child welfare policies in educational institutions.”
“While the situation calls for solemn reflection and collective responsibility, we would want to express dismay at the unprofessional conduct of some bloggers who have chosen to sensationalize the tragic incident rather than uphold journalistic integrity.
“The House of Oduduwa encourages all stakeholders, from government officials to the media and citizens, to unite in compassion and constructive dialogue. Let us honour the memories of the departed by fostering a culture of care, respect, and accountability in our communities,” the statement added.
-
News6 years ago
Nigerian Engineer Wins $500m Contract to Build Monorail Network in Iraq
-
Featured7 years ago
WORLD EXCLUSIVE: Will Senate President, Bukola Saraki, Join Presidential Race?
-
Boss Picks7 years ago
World Exclusive: How Cabal, Corruption Stalled Mambilla Hydropower Project …The Abba Kyari, Fashola and Malami Connection Plus FG May Lose $2bn
-
Headline6 years ago
Rehabilitation Comment: Sanwo-Olu’s Support Group Replies Ambode (Video)
-
Headline6 years ago
Fashanu, Dolapo Awosika and Prophet Controversy: The Complete Story
-
Headline6 years ago
Pendulum: Can Atiku Abubakar Defeat Muhammadu Buhari in 2019?
-
Headline6 years ago
Pendulum: An Evening with Two Presidential Aspirants in Abuja
-
Headline6 years ago
2019: Parties’ Presidential Candidates Emerge (View Full List)