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.
READ ALSO: 2024 Poll: Group Calls On Dr. Umakhihe To Join Edo Governorship Race
“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.
READ ALSO: EFCC Seeks Law To Seize Unexplained Wealth
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
‘Pioneer Of Cable TV News’: Key Facts About CNN Founder, Ted Turner

Ted Turner, the media businessman who founded CNN died at the age of 87. He died peacefully on Wednesday, surrounded by family, according to Turner Enterprises.
Contents
Launched 24-hour news television
Built a media network
Expanded through sports
Recognition and influence
Philanthropy and global causes
Environmental efforts
Health and later years
Early career path
Leadership and legacy
Personal life
Exit from business
Family
Below are key facts about his life and impact:
Launched 24-hour news television
Turner founded CNN on June 1, 1980, introducing the first 24-hour news channel and changing how audiences follow global events.
READ ALSO:CNN To Layoff 200 Staff Amid Attempts To Modernise Business
Built a media network
He moved from billboards into broadcasting, turning an Atlanta TV station into a national superstation in 1976. His business later grew to include CNN International, TNT, Turner Classic Movies and Cartoon Network.
Expanded through sports
Turner invested in sports broadcasting and owned teams including the Atlanta Braves and the Atlanta Hawks, using television to reach wider audiences.
Recognition and influence
In 1991, he was named Time magazine’s Man of the Year for his role in shaping modern news coverage.
Philanthropy and global causes
He founded the United Nations Foundation and supported campaigns against nuclear weapons. In 1997, he pledged $1 billion to the United Nations.
READ ALSO:CNN President, Jeff Zucker Resigns After Failing To Disclose Secret Affair With Colleague
Turner supported conservation work, including reintroducing bison in the United States, and backed environmental education through the “Captain Planet” cartoon.
Health and later years
In 2018, Turner revealed he had Lewy body dementia. He also recovered from a mild case of pneumonia in early 2025.
Early career path
He took over his father’s billboard company at 24 after his father’s death and later expanded into radio and television, despite limited experience in journalism.
“I worked until 7 o’clock, and when I got home the news was over,” he once said. “So I missed television news completely. And I figured there were lots of people like me.”
Leadership and legacy
READ ALSO:CNN Reporter Protests Nigeria’s $215 Single Entry Visa Fee
“Ted was an intensely involved and committed leader, intrepid, fearless and always willing to back a hunch and trust his own judgement,” Mark Thompson, Chairman and CEO of CNN Worldwide, said in a statement. “He was and always will be the presiding spirit of CNN. Ted is the giant on whose shoulders we stand, and we will all take a moment today to recognize him and his impact on our lives and the world.”
Personal life
Turner married actress Jane Fonda in 1991, and they later divorced after 10 years, though they remained close.
“I would never love anyone like I love him,” she said. “But I just couldn’t keep moving in his world, along the surface for the rest of my life. I knew that I would get to the end of my life and regret not doing the things that I also needed to do for me.”
Exit from business
He sold his company to Time Warner in 1996 and later stepped away following its merger with AOL.
Reflecting on his life, Turner once said: “I lost Jane. I lost my job here. I lost my fortune, most of it. Got a billion or two left. You can get by on that if you economize.”
Family
He is survived by his five children, 14 grandchildren and two great-grandchildren.
Headline
Iran’s Nationwide Internet Shutdown Hits 70 Days

NetBlocks, a monitoring group, has disclosed that an internet shutdown enforced by the Iranian regime has entered its 70th day, severing key access from swathes of the population under the shadow of war.
NetBlocks reported on Friday that the blackout has now surpassed 1,656 hours, marking more than two months since US-Israeli strikes pounded Tehran and escalated across the Middle East.
“Digital connectivity is vital in times of crisis,” NetBlocks said in a post on X. “Limiting service harms those most in need – people with disabilities, students, small businesses and the general public.”
READ ALSO:US Underestimated Iran Before War – France’s Bardella
According to CNN, Iran imposed a separate internet shutdown on the country’s 92 million people earlier this year, when it launched the most lethal crackdown on anti-government protesters since the Islamic Republic’s founding 47 years ago.
CNN further reports that the latest blackout has cut off another potential lifeline for Iranian residents faced with high unemployment and economic pressure exacerbated by the US-Israeli campaign.
(CNN)
Headline
Gas Prices In US Edge Down After Two Weeks Of Increases

The cost of a gallon of regular gas in the United States (US) has edged down a little more than a penny to $4.55.
According to AAA’s readings, this marks the first decline in the average gas price after 15 straight days of increases.
The decline is minuscule compared to the large increases in gas prices over the last two weeks.
According to CNN, gasoline costs rose an average of nearly 4 cents a day during that period and had several daily increases of between 7 and 9 cents.
READ ALSO:Gas Station Explosion Rocks Calabar, Scores Injured, Property Destroyed
Also Read: Trump insists US-Iran ceasefire intact despite recent exchange of fire
CNN also reports that based on past gas spikes, it will likely take weeks for gas prices to get down below $4 a gallon.
The report, however, states that a previous two-week stretch of gas price declines only shaved 14 cents off the average price, taking the average price to $4.02, before the recent 15-day run of increases.
READ ALSO:Tinubu Signs Executive Order To Protect Nigeria’s Oil & Gas Revenue
According to CNN, it could take months for the average price to fall below $3 per gallon, as it did before the war in Iran.
CNN further reports that only one state – Oklahoma – now has an average price of less than $4 a gallon, and its average stands at $3.98. California has the highest average price at $6.16.
(CNN)
Politics4 days agoBREAKING: NDC Zones Presidency
Politics5 days agoBREAKING: APC Governors Forum Splits As Uzodimma, Abiodun Lead Rival Factions
Politics5 days agoCrisis Hits APC Govs Forum As 18 Rejects Uzodinma’s Removal
News5 days agoNiMet Warns Of Flash Flooding In 19 States
Sports5 days agoWAFCON 2026: Super Falcons Suffer Blow As Forward Faces Six-week Layoff
Sports5 days agoEPL: Cole Palmer Told To Leave Chelsea
Sports5 days agoEPL: They May Not Win All Remaining Matches – Paul Merson Predicts Title Winners
News4 days agoPresidency Reveals Details Of Ribadu’s Meeting With US VP, Secretary Of State
News3 days agoEdo Bags NECO Excellence Award
Sports5 days agoTurkey: Galatasaray Give Condition To Sell Victor Osimhen















