Tingo Group Founder Denies Stocks Floating To Defraud Shareholders

Founder of Tingo Group, Dozy Mmobuosi, has denied allegations of floating Dozie stocks to defraud shareholders, saying, the allegations are a deliberate attempt by certain Western powers for selfish reasons.

Speaking during a press briefing at the company’s head office in Victoria Island, Lagos, over the weekend, the Tingo Group, he alleged that, his decision to invest in the beverage and telecom industries, as well as the 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.

He added that he did not commit any wrongdoing in the United States but being a patriotic Nigerian by investing in Nigeria to contribute his own quota to the development of his country.

While citing Tingo’s massive investment in agriculture, beverage manufacturing, media, telecoms, and state-of-the-art healthcare services  in Nigeria, he added that the firm’s flagship product, Tingo Cola, is a testament to his commitment to quality and excellence.

To him, “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.

“I want to categorically deny allegations that I floated the DOZIE stocks to defraud shareholders. These claims are baseless and motivated by malice. My organisation 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 Nigeria Police Force, he said, has exonerated him and Tingo Group over alleged fraudulent diversion of funds and falsification of financial report, noting that, “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.”

While calling for support of Nigerian investors for positive economic growth, Mmobuosi urged the Nigerian authorities to continue to support patriotic entrepreneurs like himself, Aliko Dangote, and a host of others who have invested heavily in the country. 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. As such, I will not be bullied into submission” he assured.