Headline
US Charges Nigerian Businessman, Three Companies Over ‘Massive’ Fraud

The United States Securities and Exchange Commission (SEC), on Monday, filed charges against Nigerian businessman and CEO of Tingo Group, Mmobuosi Odogwu Banye, aka Dozy Mmobuosi, and three companies for inflating financial records of the companies and key subsidiaries to defraud investors.
According to the commission, Mmobuosi has since 2019 inflated the financial statements of Tingo Mobile Limited. It also stated that, as against the $461.7 million reported for its 2022 fiscal year, the company’s bank account allegedly showed a combined balance of less than $50.
The statement partly reads: “The SEC’s complaint, filed on December 18, 2023, alleges that, since at least 2019, Mmobuosi spearheaded a scheme to fabricate financial statements and other documents of the three entities and their Nigerian operating subsidiaries, Tingo Mobile Limited and Tingo Foods PLC. The complaint further alleges that Mmobuosi made and caused the entities to make material misrepresentations about their business operations and financial success in press releases, periodic SEC filings, and other public statements.
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“For instance, Tingo Group’s fiscal year 2022 Form 10-K filed in March 2023 reported a cash and cash equivalent balance of $461.7m in its subsidiary Tingo Mobile’s Nigerian bank accounts. In reality, those same bank accounts allegedly had a combined balance of less than $50 as of the end of fiscal year 2022. According to the SEC’s complaint, Defendants also fabricated the customer relationships that formed the basis of their purported businesses.”
The SEC also revealed that Mmbuosi had made an unsuccessful attempt to buy a Premier League club earlier in the year.
“The complaint alleges that Mmobuosi and the entities he controls have fraudulently obtained hundreds of millions in money or property through these schemes, and that Mmobuosi has siphoned off funds for his personal benefit, including purchases of luxury cars and travel on private jets, as well as an unsuccessful attempt to acquire an English Football Club Premier League team, among other things,” the statement reads.
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The commission said it had filed a complaint in the U.S. District Court for the Southern District of New York, and prayed six emergency applications, which include freezing Mmobuosi’s assets, and prohibiting TIH, Agri-Fintech and Tingo Group from transferring money or property or issuing shares to Mmobuosi.
Headline
12 Die, 30 Missing In Peru Landslide

At least 12 people, including three children, died in a landslide at a river port in central Peru on Monday, and 30 were reported missing, officials said.
The landslide submerged a boat with about 50 passengers on board, and another with none, as they were docked at the port of Iparia in the Amazon jungle region of Ucayali, according to a police report cited by the Andina news agency.
Six people were injured, it added, and a search and rescue operation was underway at the start of the Peruvian rainy season.
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Without giving a toll, Peru’s COEN national emergency operations centre said on X that tragedy struck at dawn due to “erosion” of the bank of the Ucayali river.
It said the navy has been called in to help.
AFP
Headline
Nigeria Grants Asylum To Guinea-Bissau Opposition Candidate

The Nigerian embassy in Guinea-Bissau has granted asylum to Fernando Dias da Costa, the country’s opposition presidential candidate, following alleged threats to his life after last week’s military coup, The Cable Reports.
The coup was announced by military officers on Wednesday, just days after Guinea-Bissau’s presidential election in which both incumbent President Umaro Embaló and his main challenger, da Costa, claimed victory before official results were released.
Nigeria condemned the takeover and urged an immediate return to constitutional order.
In a letter to the President of the Economic Community of West African States Commission, Omar Touray, dated November 30, the Foreign Affairs Minister, Yusuf Tuggar, said President Bola Tinubu had approved asylum and protection for da Costa inside the Nigerian embassy in Bissau.
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Tuggar wrote that the decision was made “in response to threats made against da Costa’s life.”
“In this regard, it would be appreciated if you would kindly mandate the ECOWAS Stabilisation Support Mission in Guinea-Bissau to provide him protection and security while in the premises of the Nigerian embassy,” the letter stated.
The foreign affairs minister’s Special Assistant on Media and Communications Strategy, Alkasim Abdulkadir, confirmed the letter’s authenticity to The Cable on Monday.
He said, “The decision of the Federal Government of Nigeria to grant asylum and provide protection to Fernando Dia Da Costa falls squarely within Nigeria’s sovereign responsibility and longstanding commitment to regional peace, stability, and democratic governance.”
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He added that Nigeria acted “in the broader interest of de-escalation,” saying the government had exercised its discretion “to prevent further deterioration of tensions and to promote social cohesion in Guinea-Bissau and the wider West African sub-region.”
According to Abdulkadir, the intervention aligns with ECOWAS principles and reflects Nigeria’s role as a stabilising force in West Africa.
Following the coup, ECOWAS held an emergency virtual summit of heads of state and subsequently suspended Guinea-Bissau from the regional bloc until constitutional order is restored.
Headline
Trump To Attend FIFA World Cup Finals Draw On Friday

The White House on Monday confirmed US President Donald Trump would attend the draw for the FIFA World Cup finals in Washington later this week.
The United States will co-host the 2026 tournament alongside Canada and Mexico.
“On Friday, President Trump will attend the FIFA World Cup final draw at the Kennedy Centre,” White House Press Secretary Karoline Leavitt told reporters.
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Trump has made the World Cup a centrepiece event of both his second presidency and the 250th anniversary of US independence next year.
But the giant sporting extravaganza has not escaped the political turmoil caused by Trump’s hardline stance on a host of issues.
Trump, a Republican, has raised the possibility of moving games from some US host cities amid a crackdown on what he says is crime and illegal migration in some Democratic-run areas.
AFP
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