Dozy Mmobuosi

Dozy Mmobuosi
Dozy Mmobuosi pictured in 2021
Born
Lagos, Nigeria
Websitedozymmobuosifoundation.com

Dozy Mmobuosi, is a Nigerian businessman, and tech entrepreneur. An advocate for technological advancement in Africa,[1] he is the founder and former CEO of Tingo Inc.[2][3]

In 2023, the US Securities and Exchange Commission filed charges against him saying he had been attempting to defraud investors by inflating Tingo companies’ financial performance figures.[4][5] On 2 January 2024, Mmobuosi was charged in the US with securities fraud, making false filings with the SEC, and conspiracy charges.[6] In September 2024, a US district court ordered Mmobuosi and his three entities to pay a fine of $250mn as final judgement by default following the SEC civil complaint.[7]

  1. ^ Ajayi, Omokolade (2022-02-22). "Nigerian founder Dozy Mmobuosi's Tingo moves to raise $500 million, market cap soars above $7.6 billion". Billionaires.Africa. Retrieved 2022-06-16.
  2. ^ "Nigeria's Tingo Mobile says it is about to list on three stock exchanges". TechCabal. 2016-02-17. Retrieved 2022-06-09.
  3. ^ "How Tingo Is Using Agri-Fintech To Change Farming in Africa". Forbes Africa. 2021-12-17. Retrieved 2022-06-09.
  4. ^ Davies, Rob (19 December 2023). "Businessman who tried to buy Sheffield United accused of 'elaborate' fraud". The Guardian. Retrieved 19 December 2023.
  5. ^ "U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 25913". SEC.gov. U.S. SECURITIES AND EXCHANGE. Retrieved 30 December 2023.
  6. ^ "Founder And Former CEO Of Tingo Companies Charged With Securities Fraud". U.S. Attorney's Office, Southern District of New York. Retrieved 3 January 2024.
  7. ^ "Nigerian fintech chief fined $250mn after holdings described as a 'fiction'". www.ft.com. Retrieved 2024-09-09.