BrownEnvelop:
A Nigerian woman was left in shock after a former classmate and her family relocated to Canada months after donations were made to help the same family out of “financial problems”.

In a series of posts on social media the Nigerian lady said sometime in March 2023, she was added to a Whatsapp group .

She said that the admin of the group later informed everyone that the purpose for the group was to seek financial assistance for a former classmate of theirs whose husband had no job and she was pregnant with their third child.

The Nigerian lady said they all contributed immensely with the lowest donation being N50, 000 and the highest N500, 000. She said she was shocked on January 1, 2024 when she stumbled on the said lady and her family’s photos in Canada.

She said she reached out to the admin of the group to get some clarity and she was informed that the lady who was in dire need blocked her immediately after collecting the donations.



Credit; FOUNDATIONAL IGBO WOMAN



Source: FOUNDATIONAL IGBO WOMAN

The United States of America Government has brought criminal charges against Nigerian fintech businessman, Odogwu Banye Mmobuosi for allegedly involving in a series of fraudulent activities.

Reuters reports that, in an indictment made public on Tuesday, Mmobuosi, 45, the former co-chief executive officer of Tingo Group (TIO.O), was charged with securities fraud, producing false Securities and Exchange Commission filings, and conspiracy.

According to prosecutors, the defendant, Dozy Mmobuosi, falsely asserted that his Tingo Mobile cellular business and Tingo Foods farm business were profitable, generating hundreds of millions of dollars in revenue.

It was learned that Mmobuosi transferred both firms to Tingo Group and Agri-Fintech Holdings (TMNA.PK), causing them to falsely portray the companies as "cash-rich, revenue-generating companies," and plundered millions of dollars by misappropriating funds and selling stock at inflated prices.

According to prosecutors, the alleged conspiracy took place between 2019 and 2023.

SaharaReporters had also reported an investigation by Hindenburg Research found that Tingo Group, founded and spearheaded by “Dozy” Mmobuosi, is an exceptionally obvious scam with completely fabricated financials.

Tingo Group which is headquartered in New Jersey, United States of America, claims to have several business segments focused on providing mobile phones, food processing and an online food marketplace for farmers primarily located in Nigeria.

However, Hindenburg Research in its comprehensive report noted that it identified major red flags with Dozy’s background.

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

Dozy is regularly described by the media as a billionaire and reports about went viral in 2023 when he attempted to buy Sheffield United, a football club in England which had 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.

However, Hindenburg Research in its comprehensive report noted that it identified major red flags with Dozy’s background.

According to the report by the research company, in 2019, Dozy claimed to have launched “Tingo Airlines” and posted social media messages encouraging customers to “fly with Tingo Airlines today”.

It noted that it was later uncovered that Tingo photoshopped its logo onto pictures of aeroplanes. Dozy later admitted to never owning any aircraft, saying Covid-19 pandemic affected its kick-off.

In April 2023, Tingo’s Co-Chair wrote a public letter to Dozy, filed with the SEC, saying he could not approve the company’s annual report & felt it “necessary" to "resign" due to “many critical questions, comments and recommendations” that went “unanswered and unheeded”.

Tingo's food division is 7 months old, yet claimed to generate $577.2 million in revenue last quarter alone, representing 68 per cent of total reported revenue.

If accurate, its claimed 24.8 per cent operating margins would exceed those of every major comparable food company. Yet, Tingo has no food processing facility of its own, the report said.

Rather, it claims its explosive revenue and profitability are derived from acting as a middleman between Nigerian farmers and an unnamed third-party food processor.

In February 2023, the company held a groundbreaking ceremony for a planned $1.6 billion Nigerian food processing facility, attended by Nigeria’s agriculture minister and other political luminaries.

Hindenburg Research found that the rendering of the planned facility, featured in Tingo’s investor materials and on a billboard at the ceremony, is actually a rendering of an oil refinery from a stock photo website.

Following its groundbreaking, Tingo reported in a May 2023 SEC filing that it made “significant progress” on the facility, including laying “the foundations of its numerous buildings”.

When the research firm visited the site a week later, it found zero signs of progress. It described it as empty except for the plaque and billboard commemorating the groundbreaking ceremony, surrounded by weeds.

Tingo Group later debunked the investigation report by Hindenburg Research.

It stated that 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”.

The statement further noted that “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.”

accordadoga21:
Hmmm

Bobloco:
“Ebi npa wa oo”

No be budget breakdown we go chop

Kobojunkie:
The same Jesus Christ that said Hie loves only those who abide in Him -- those who do as He commands? Abi na another Jesus you dey talk?

Sam Adeyemi To Older Generation: Get Nigeria To Work, Youths Won’t Keep Silent For Long.


Pastor Sam Adeyemi has called on the older generation to work for the betterment of the country, saying the youths will demand accountability from them.

The cleric and Senior Pastor of Daystar Christian Centre (DCC) spoke on Tuesday, attributing it to youths’ access to information.

He said leaders from all sectors must therefore work together to make the country better in the face of issues affecting Nigeria.

“The elite class – those of us who belong to this class – need to begin to discuss among ourselves and honestly, we need to act with urgency and I need to plead with those of us in the elite class and I am talking about everyone who has been able to walk their way to the top and fairly comfortable and I am talking about people of the highest level in the political class at the National Assembly, the governors, state house assembly and so on. I am talking of those of us in the business sector and those who are heads of religious institutions,” he said on Channels Television’s breakfast show Sunrise Daily.

“It will be in our self-interest to get Nigeria to work now because the younger generation is more enlightened and have access to more information and they are not going to keep silent for long. It will get rougher and rougher to lead because they will demand accountability and good leadership.”



Pastor Sam as he is often called, also said the country needs to evaluate its moral values. This, he noted is key to restoring Nigeria. According to him, every nation grows on certain values which are inculcated in citizens.

He also rued Nigeria’s out-of-school number and said the development leaves much to be desired. According to him, with millions of children on the streets, many of them become easy targets for criminals to recruit.

Kobojunkie:
If you die a Christian, that is an impossibility since Jesus Christ made clear that those who follow the doctrines and traditions of men — lies — have no part in His Truth.

However, if you die an unbeliever, you don't need to worry since you cease to exist when you die anyway.

Righthussle:


The old man too lie

Jeyun:
really, but i have seen a yeruba community in Lagos destroyed, mimed, killed and devastated by the igbos.

Infact the last time I check it was hausas and Yoruba that always clash and fight dirty not igbos and Yoruba.

Outside NL igbos and Yoruba eat,work, marry and do business together happily like brothers and sisters.

Since only NL Yoruba and igbos fight and hate themselves the two tribes does not have any problems then.

PlayMaker14:
“Borrow Borrow make me shine” government

dre11:

Merchants from neighbouring countries and beyond are mopping up grains harvested by Nigerian farmers, investigation by Daily Trust Saturday has revealed. The merchants from the…




https://dailytrust.com/naira-devaluation-how-neighbouring-countries-others-feast-on-nigerias-cheap-grains/

iwaeda:

Aku odun, elo le odun ni, Igbomina so kuku wo wo.

iwaeda:


The earliest everyone is FREE to defend himself/ herself, the better and peaceful for us all.