Billionaire businessman Dozy Mmobuosi has met with the former President of Malawi, Bakili Muluzi following allegations of fraud against him.
Mmobuosi, via his verified Instagram on Tuesday, shared a photo of his meeting with the former Malawi leader on Instagram.
He said: “Yesterday, I had the honour and privilege of spending time with His Excellency Dr. Bakili Muluzi, the Former President of Malawi. This meeting wasn’t simply an encounter, but a masterclass in leadership from a man who stood at the helm of Malawi’s transformation into a multi-party democracy,” he wrote.
“We explored the complexities of climate change, an issue underscored by the recent devastation of Cyclone Freddy in Malawi. The global implications of such a disaster cannot be overstated, and it reminds us of the pressing need for sustainable action.”
Mmobuosi said he was “deeply moved” by Muluzi’s vision and dedication to his country and “made a commitment to support Malawi’s development journey.”
Dozy Mmobuosi and the former President of Malawi Bakili Muluzi
Recall, a report by US investment research firm Hindenburg Research alleged that Mmobuosi lied about his investments.
The report accused Mmobuosi’s fintech company Tingo Group of being an “exceptionally obvious scam with completely fabricated financials”.
Tingo Group claims to have diversified business interests in mobile phones, food processing, and online food marketplace for farmers primarily located in Nigeria.
But the research firm alleged that Tingo Group lied about its $1.6 billion food processing plant, as well as some of its partnerships and products.
Hindenburg Research said its checks with the Nigerian Communications Commission (NCC) revealed that it has no record of Tingo being a mobile licensee at all, despite company claims of having 12 million mobile customers.
The firm said it visited Tingo Mobile’s office in Nigeria and found only a handful of employees and a sign posted on its door by federal tax authorities stating that the company is delinquent on its tax obligation.
It also accused Mmobuosi of fabricating parts of his personal and professional history.
“We’ve identified major red flags with Dozy’s background. For starters, he appears to have fabricated his biographical claim to have developed the first mobile payment app in Nigeria. We contacted the app’s actual creator, who called Dozy’s claims ‘a pure lie,’” the report reads in part.
“Dozy claimed to have received a PhD in rural advancement from a Malaysian university in 2007. We contacted the school to verify the degree. They wrote back saying no one by his name was found in their verification system.
“In 2017, Dozy was arrested and faced an 8-count indictment over issuance of bad checks, according to the Nigerian Economic and Financial Crimes Commission. He later settled the case in arbitration.
“In 2019, Dozy claimed to have launched ‘Tingo Airlines’ and posted social media messages encouraging customers to ‘fly with Tingo Airlines today’.
“Media outlets later uncovered that Tingo had photoshopped its logo onto pictures of airplanes. Dozy later admitted to never owning any actual aircraft.”
Earlier this year, Mmuobuosi was reported to be interested in buying English football club Sheffield United.
