Founder of Tingo Group, Mr Dozy Mmobuosi, has denied allegations of wrongdoing in his business dealings, describing them as baseless, unfounded and deliberate attempts by certain powers in the West and in Nigeria to undermine him for selfish reasons.
Speaking today (Sunday, August 25) at a press conference at the Tingo House on Victoria Island, Lagos, on “My Battles with Western Powers: Setting the Record Straight”, Mmobuosi narrated the circumstances leading to the accusations against him.
He lamented 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, insisting that he did not commit any wrongdoing in the United States except that as a patriotic citizen, he chose to invest in Nigeria to contribute his own quota to the development of the country.
Citing Tingo’s “massive” investment in agriculture, beverage manufacturing, media, telecoms, and state-of-the-art healthcare services in Nigeria, with the firm’s flagship product, Tingo Cola, as a testament to his commitment to quality and excellence, Mmobuosi said, “I am compelled to address the series of orchestrated attacks and false narratives against me and my business interests, Tingo Group and its subsidiaries.”
“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.”
Denying allegations of wrongdoing, Mmobuosi said, “I want to categorically deny allegations that I floated the DOZIE stocks to defraud shareholders. 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. Our flagship product, Tingo Cola, is a testament to our commitment to quality and excellence.
“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.”
Mmobuosi further disclosed that the Nigeria Police Force has exonerated him and Tingo Group over alleged fraudulent diversion of funds and falsification of financial reports.
He said, “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.”
On the need for support of Nigerian investors for positive economic growth, Mmobuosi said, “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. 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 declared.
