the officers got reports of a stray bullet hitting a young person and immediately located the father of the victim, followed him to the hospital and supported in facilitating his treatment but unfortunately died in the process.

Mr Ganduje, through the former Kano attorney general, asked the court to restrain the anti-graft agency from investigating him until a suit between himself and Jafaar Jafaar, publisher of the DAILY NIGERIAN, is determined

MONTVALE, N.J., June 06, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech and agri-fintech company, categorically refutes all the allegations and misinformation outlined in a report published by Hindenburg Research earlier today.

The report, which contains numerous errors of fact, together with misleading and libellous content, appears to be a deliberate attempt to undermine the positive work that Tingo Group is undertaking across various worldwide markets. As disclosed by Hindenburg Research, the report represents their own opinion, and is designed to benefit a short position taken by them and their associates from which they stand to realize sizeable gains. The Company can confirm that no attempt was made by Hindenberg Research to verify the allegations or otherwise make genuine inquiries concerning the information provided in the report prior to its release.

Tingo Group confirms that it remains in compliance with the laws of the territories in which it operates and maintains the highest standards of corporate governance. The Company also confirms that its accounting records are accurate and correct and that its financial results are accurately reported within its financial statements and its SEC filings. The investor community has demonstrated its faith in Tingo Group on the basis of detailed analyses and reports prepared by leading professional advisors, financial experts and credit rating agencies. Tingo Group will respond in detail to the allegations made by Hindenburg Research in due course, but for the avoidance of doubt, the Company believes the report published today is a deliberate attempt to damage its reputation maliciously and unlawfully through the issuance of false, misinformed and distorted information for Hindenburg Research’s own financial gain and at the expense of the Company’s shareholders.

About Tingo Group

Tingo Group, Inc. (NASDAQ: TIO) is a global Fintech and Agri-Fintech group of companies with operations in Africa, Southeast Asia and the Middle East. Tingo Group’s wholly owned subsidiary, Tingo Mobile, is the leading Agri-Fintech company operating in Africa, with a comprehensive portfolio of innovative products, including a ‘device as a service’ smartphone and pre-loaded platform product. As part of its globalization strategy, Tingo Mobile has recently begun to expand internationally and entered into trade partnerships that are contracted to increase the number of subscribed farmers from 9.3 million in 2022 to more than 32 million, providing them with access to services including, among others, the Nwassa ‘seed-to-sale’ marketplace platform, insurance, micro-finance, and mobile phone and data top-up.

Tingo Group’s other Tingo business verticals include: TingoPay, a SuperApp in partnership with Visa that offers a wide range of B2C and B2B services including payment services, an e-wallet, foreign exchange and merchant services; Tingo Foods, a food processing business that processes raw foods into finished products such as rice, pasta and noodles; and Tingo DMCC, a commodity trading platform and agricultural commodities export business based out of the Dubai Multi Commodities Center. In addition to its Tingo business verticals, Tingo Group also holds and operates an insurance brokerage platform business in China, with 130+ offices located in China’s cities and major towns; and Magpie Securities, a regulated finance services Fintech business operating out of Hong Kong and Singapore. For more information visit tingogroup.com.

Disclaimer

The information in this news release includes certain information and statements about management and the Board's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the ability of the Company to implement certain corporate actions, the ability of the Company to complete its state of the art food processing facility, the ability of the Company to recognize the anticipated benefits from its PCX and AFAN partnership, the ability of the Company to execute on its Tingo DMCC export business, including the expansion of the Company’s business and its future growth, and the Company’s ability to complete the roll-out of additional processing facilities in the future.

Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Hoodlums suspected to be political thugs on Monday, threw caution to the wind at the premises of the Ogun State Election Petition Tribunal sitting in Isabo, Abeokuta to beat up members of the Peoples Democratic Party with cane.

This happened when the State Election Petition Tribunal sitting in Isabo, Abeokuta on Monday commenced hearing the petition filed by the Peoples Democratic governorship candidate, Oladipupo Adebutu, against Dapo Abiodun of the All Progressives Congress.

The Independent National Electoral Commission declared Abiodun the winner of the March 18 governorship election in the state.

Dissatisfied with the development, Adebutu dragged Abiodun to court to challenge his victory.

The tribunal fixed Monday for the inaugural sitting on the petition filed by Adebutu against Abiodun.

While the sitting commenced within the court, the political thugs stormed the tribunal premises with canes, otherwise known as pankere, in their hands and freely used them on the opposition members.

The thugs who were not come close to the members of the tribunal, were seen attacking their political enemies with canes while policemen and security agents looked away.

The victims were beaten by these thugs and chased them away.

It was observed that, despite that the road that leads to the court was barricaded at both ends by the police, that gesture did not stop the hoodlums from attacking their targets.

The situation became a free-for-all as the political thugs roamed about the premises with canes in their hands while police made no attempt to arrest them or stop them from causing chaos[/b].

[b]A policeman who did not want his name in print said, “There is nothing we can do, we can’t arrest them. Everything about Ogun is always different.”

A PDP member, who was one of those attacked by the thugs, said he lost his phone, money and other items in his possession while being beaten.

As of the time of filing this report, some members of the opposition have fled the court premises to avoid further attacks.

Several attempts to contact the new Police Public Relations Officer, Omolola Odutola failed.

Odutola who replaced the immediate-past PPRO of the state command, SP, Abimbola Oyeyemi had yet to officially resume.

Several calls made to her mobile number did not connect as of the time of filing this report.

Also, a human rights activist, John Uche, said the sit-at-home had become an ill wind that blows nobody any good.