Hindenburg Research: Peter Obi seen in pictures with the great founder of Tingo Mobile Group, Dozy Mmobuosi

Hindenburg Research: Peter Obi seen in pictures with the great founder of Tingo Mobile Group, Dozy Mmobuosi.

ALLEGATIONS FROM Hindenburg Research:

Dozy is regularly described by the media as a billionaire and reports about went viral this year when he attempted to buy Sheffield United, a football club in England which has just gained promotion to the Premier League. He currently serves as the CEO of Tingo Group Holdings, the group’s key holding company entity. He has gained international attention, gracing the cover of GQ Africa in December 2022.

He appears to have fabricated his biographical claim to have developed the first mobile payment app in Nigeria, the investigation revealed.

When Hindenburg Research contacted the app’s actual creator, identified as Deji Oguntonade, he called Dozy’s claims “totally false” & a “pure lie”.

Dozy claimed in his biography to have received a PhD in rural advancement from Malaysian university UPM in 2007. Also, this claim was also found to be false because when Hindenburg Research contacted UPM to verify the degree, the school wrote back and said no one by his name was found in its verification system.

Hindenburg Research, a U.S. investment research firm focused on activist short-selling, has accused Tingo Group, a fintech company, of being an “exceptionally obvious scam with completely fabricated financials”.

Tingo Group claims to have diversified business interests in mobile phones, food processing, and online food marketplace for farmers primarily located in Nigeria.

In a report released on Tuesday, the firm alleged that Tingo Group lied about its $1.6 billion food processing plant, as well as some of its partnerships and products.

Hindenburg Research said its checks with the Nigerian Communications Commission (NCC) revealed that it has no record of Tingo being a mobile licensee at all, despite company claims of having 12 million mobile customers.

He later settled the case in arbitration.

In 2019, Dozy claimed to have launched “Tingo Airlines” and posted social media messages encouraging customers to “fly with Tingo Airlines today”.