TINGO boss, Dozy Mmobuosi escapes to Brazil, Lagos office shut
Tingo Group has been in the news lately over hoax claims of stream of bogus investment as exposed by Hidenburg. The news coming out now is that the founder Dozy Mmobuosi has escaped to south America country to evade arrest and prosecution. A source said the choice of his destination is to avoid a possible extradition.
While no one can concretely defend Tingo with verifiable data of his thousands farmers and mobile telephone subscribers, the LAGOS office in Marina has been shut and staff asked to stay away.
News of the People gathered that Tingo’s voyage into the Nigerian entertainment business last year was an eye opener as to the capabilities and dubious nature of the acclaimed multi-billion empire. The company was said to be major sponsor of WONDERLAND in Lagos while its payment platform claimed to be the best was no where to be found to execute the project. An upcoming fintech was eventually hired to come to their rescue in spite of paying huge amount to be the lead sponsor of the event. It was a smokescreen for many that Tingo after all may be another Ponzi laundering scheme and well know for droppin names in corporate world.
Hindenburg alleged on its website: it came to the knowledge that Mmobuosi, the founder, falsely professed to hold a PhD in rural advancement from a Malaysian University in 2007 after the school said no such name features in its record.
The 43-year-old is the chief executive at Tingo International Holdings, the parent company of Tingo.
The investment research house stated that Mr Mmobuosi claimed to have created Nigeria’s first mobile payment app. In contrast, the actual developer of the app has described the assertion as “a pure lie.”
We are urging financial market regulators to implement thorough monitoring precisely because Hindenburg Research utilizes strategic tactics in their reports to deliberately manipulate public perception of companies like Tingo Group in a negative way, aiming to profit from the short positions held by influential investors.
The fact is,I ‘m done with with all these false, unconfirmed reports… Going by the hazard caused by Hindenburg’s fabricated report, there’s need to be careful of information to digest.
These are false claims, the Hindenburg Research report is a manipulative technique deployed by these insiders to extort well meaning commercial enterprise like Tingo Group
Tingo Group brought digital transformation into Africa especially in Nigeria and have also aided Nigerian farmers with 30billion NGN for their projects.
The Hindenburg Research report is just a negative sentiment and the financial market need to look into this
These baseless accusations against Tingo by Hindenburg Research needs to be gotten rid off ASAP
Tingo only aims to elevate the lives of people in Africa. If these accusations keep going, the lives of so many will be affected
Haha 😂 this sounds but funny and silly. What do you mean run away .
I really don’t wanna know what the fact is as long as the report was published by Hindenburg, then Tingo Inc is definitely innocent.
What do you mean run away??? I’m pretty sure shareholders of Tingo Inc as well as the farmers it connects and helps to survive know how real Tingo Inc really is.
So sorry but not sorry to say your article is plain BS.
This have to be the lamest article I’ve read after the Hindenburg report. It’s sad that people unfamiliar with the stock markets takes Hindenburg as some Robinhood while in fact they’re the real SC .