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Dozy Mmobuosi Hails Police for Clearing Tingo of Fraud, Says Allegations by the West a Conspiracy, Perceived Malice

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By Eric Elezuo

Popular Nigerian businessman and Founder, Tingo Group, Dozy Mmobuosi, has lauded the Nigerian Police Force, particularly the Federal Criminal Investigation Department (FCID), for giving him and the Tingo family a clean bill of health after due diligence and thorough investigation over fraud allegations. He noted that all allegations of infractions against him and his business interests were “baseless and unfounded”.

The Tingo Founder made these observations during a press briefing tagged, ‘My Battles with Western Powers: Setting the Record Straight’, at his Victoria Island office on Saturday, where he lambasted the West, especially the United States authorities for false multi-million dollar fraud allegations against him.

Mmobuosi was on August 20 exonerated by the FCID of all wrongdoing charges brought against him and his business concerns.

The legal unit of the FCID insisted that there is no evidence to prosecute Tingo Foods, Tingo Mobile Plc, and its founder, Dozy Mmobuosi, over allegations of fraud, and therefore, exonerated him and Tingo Group of alleged fraudulent diversion of funds and falsification of financial reports.

“I want to specially thank the Nigeria Police Force’s Criminal Investigation Department (FCID) for their diligence during months of investigation and the courage afterwards to clear, without fear or favour, Tingo Foods, Tingo Mobile and myself of fraud allegations,” he added.

During the news conference, the businessman said his success as an African entrepreneur is “perceived as a threat” by the United States Securities and Exchange Commission (SEC), which came after him with false allegations in 2023, and other like-minded western authorities.

Among other allegations, the US SEC said Mmobuosi gave false narratives about owning $461.7 million when he only had less than $50 in all accounts.

As a result, on November 16, 2023, the commission suspended Tingo from the US stock market for allegedly providing “inadequate and inaccurate information about its assets”.

Rejecting all the actions against him however, the entrepreneur said the allegations were unfounded, adding that he was “preparing to contest them to the full extent of his capacity”.

While denying the allegations of wrongdoing, Mmobuosi said they are “deliberate attempts by certain powers in the West and in Nigeria for selfish reasons”, stating categorically that he would not be bullied into submission by anyone.

“I am compelled to address the series of orchestrated attacks and false narratives against me and my business interests, Tingo Group and its subsidiaries,” he said.

“My decision to invest in the beverage and telecom industries, as well as my acquisition of Sheffield United, a historic British football club, has been met with resistance and intimidation from the American government and other powerful forces for obvious reasons.

“It is no secret that my success as a Black African serial entrepreneur has been perceived as a threat by some.

“The notion that I, a Nigerian, could achieve such milestones is difficult for some to accept. However, I will not be deterred; I will continue to invest in my country and other friendly and fair countries.”

He stressed that all allegations of wrongdoing, are claims “motivated by malice”.

The businessman also said the flagship of his product, Tingo Cola, “is a testament to his commitment to quality and excellence”.

“I want to categorically deny allegations that I floated the DOZIE stocks to defraud shareholders,” Mmobuosi said.

“These claims are baseless and motivated by malice. My organization has made significant investments in agriculture, beverage manufacturing, media, telecoms, and state-of-the-art healthcare services here in Nigeria.

“I make bold to say that I have never received any form of donations from anyone or any groups. Should there be anyone with evidence to the contrary, let the person call me out, rather than resort to malicious publications.”

The businessman also canvassed for support for Nigerian investors instead of condemnation, saying there was a need for the government to support Nigerian investors for positive economic growth.

“I passionately urge the Nigerian authorities to continue to support patriotic entrepreneurs like myself, Aliko Dangote, and a host of others who have invested heavily in our great nation,” the businessman said.

“We deserve encouragement, not hindrance and character assassination.

“I will continue to fight for my rights and the rights of Nigerians to succeed in business, free from harassment and intimidation. I am proud of my businesses which rest on solid achievements and hard work.”

With the latest vote of confidence passed by the Nigerian Police, it’s believed that the businessman will bounce back to reclaim all lost grounds.

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Ex-Oyo Governor, Victor Olunloyo, Dies at 90

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A former governor of Oyo State, Dr. Victor Olunloyo, is dead.

According to a statement by his family on Sunday, he died a few days before his 90th birthday.

The statement titled ‘Victor Olunloyo goes home’ was signed by Oladapo Ogunwusi on behalf of the family.

It read, “With a heavy heart but gratitude to the Almighty, we announce the passing into glory of Dr. Victor Omololu Olunloyo, former governor of Oyo State, mathematician and engineer and renowned technocrat, a few days before his 90th birthday.

“The Balogun of Oyo and Otun Bobasewa of Ife, Dr. Olunloyo was first Rector, Ibadan polytechnic and first Rector, Kwara State Polytechnic among other notable appointments.

“His long record of service to the nation and humanity is a source of pride to his family and associates even as we come to grip with this devastating event.

“The Olunloyo family will appreciate the understanding of the press and the public as they commence efforts to give him a befitting burial.

“Even from everlasting to everlasting, He is God.”

About a year ago in April 2024, the rumour of the death of the elder statesman was reported by some news platforms.

But speaking with The PUNCH correspondent who visited his Molete residence in Ibadan, the state capital, he debunked the rumour, saying he was hale and hearty.

“I’m still here, not yet gone,” he declared then.

He also expressed worry over the rumour and asked who would live forever, stressing, “Those breaking death news and the person presumed dead will all die one day.

“I’ve been lucky. My father died at 42, while my mother died at 102. I’m 89. I’ve crossed the expected life age.”

The elder statesman also illustrated how the rumour of his death hit several news platforms on June 7, 2022.

He noted that the rumour mongers claimed that he died at the University College Hospital, Ibadan.

A few days later, the family issued a statement, declaring that he was not dead but suffering from old age ailment and asked Nigerians to pray for him to survive the health complications.

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Umahi Apologises to Tinubu, Lagosians, Denies Knowledge of Bridge Closure

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The Minister of Works, Senator Dave Umahi on Thursday, said the closure of Independence Bridge in Lagos for urgent rehabilitation of the collapsed retaining wall was made without his knowledge or authorization.

Umahi said this while apologising to Lagos residents and President Bola Tinubu for the disruption caused by the sudden closure of the bridge on Wednesday.

Umahi who spoke when he toured the bridge in Lagos said: ” Unfortunately, when the bridge was to be closed, I was not informed. It is very unfortunate because for a bridge to be closed, especially in Lagos, as has been the tradition, I should be informed as the minister.

“We should also have studied the implication of it even in an emergency situation. We would have deployed emergency evaluation of the implication of closing the bridge.”

Umahi warned that controllers of works and engineers would face disciplinary action if such an incident would happen again.

“I use the opportunity to warn all controllers and engineers all over the country. Never you close a road or close any bridge without running through the permanent secretary, who will seek for permission from the honourable minister of works,” he said.

The minister acknowledged the efforts of Lagos State Government in managing traffic flow during the closure.

He also took responsibility for the error, saying: “I take responsibility for it, even though I did not order it, but every action by any staff of the ministry of works, I take responsibility for it.”

Umahi said that the closure, which caused significant traffic congestion, was avoidable.

He said: “If we were to do this properly, there would have been a different kind of method deployed and it wouldn’t have necessitated the total closure.”

According to him, even if closure was necessary, it would have been done in a way that it would take three days: Friday, Saturday, Sunday, and necessary remedial work would have been put in place.

“What we are doing now is to restore the bridge temporarily within the next three days. By Sunday, this place will be totally open.”

He added that a permanent solution would be implemented after a two-week assessment.

“Then, after two weeks, we will look at the settlements, and then we will take out three days to put the permanent structure. That is what we are going to do,” he said.

The minister emphasised the competence of the contractor handling the project, Build Well.

“Build Well is a reputable company, and they have been restoring a lot of failures on our bridges in Lagos, some of them 53 years old.

“Some bridges’ spans have been lifted, especially Eko Bridge, Marina Bridge, and even the Lagos-Ibadan Bridge. They are also intervening in all of them,” he added.

The minister also said that the design of the bridge would be varied to address the emergency situation.

He said: ” The design will be varied according to the emergency situation we have on ground, and the contractor is going to cooperate with us.”

He pledged to personally oversee the restoration efforts, saying, “I am not going until the bridge is fully restored by Sunday, we will work day and night to restore it, and then we will evaluate it.”

The bridge was initially closed on April 1 for essential maintenance and rehabilitation works, with the government planning to complete the repairs by May.

NAN

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Communal Clashes: Adeleke Threatens Royal Fathers with Dethronement

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Osun State Governor, Senator Ademola Adeleke, has threatened stern state action against traditional rulers of Ifon, Erin Osun and Ilobu communities if they fail to sustain current peace, and de-escalate the crisis in their communities.

The Governor issued the warning against the backdrop of online reports that some faceless groups across the conflict areas are planning another round of attacks.

“In the midst of sallah celebrations, I got reports of some people planning another round of conflict around Ifon, Ilobu and Erin Osun towns. The security agencies have tightened surveillance to ensure no attacks take place.

“The security agencies are also speeding up the interrogation of key chieftains and actors in the conflict. I will remind top leaders of the towns that the peace undertaking they are signing are not for joke. They will be held accountable. There will be accountability before the law.

“The curfew we relaxed was on humanitarian grounds. As a compassionate government, we know many innocent people are suffering because of the evil agenda of a few elements across the conflict areas. Any attempt to exploit the adjustment of the curfew for renewed violence will be met with full re-imposition of the 24-hour curfew.

“Additionally, I will remove from office, any traditional ruler where violence recurs. This card is on the table. Royal fathers of each town must call their subjects to order. I will wield the big stick. Enough is enough”, the Governor was quoted as saying in the statement.

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