In December 2023, the SEC charged Mmobuosi and his companies —Tingo Group, Agri-Fintech Holdings, and Tingo International Holdings — with inflating financial metrics to deceive investors.

The SEC described his business operations as "a fiction," alleging that reported assets and revenues were largely fabricated. For instance, Tingo Mobile claimed cash reserves of $461.7 million for 2022, while actual balances were reportedly less than $50.

Despite these allegations, Mmobuosi is advancing an AI-driven platform aimed at transforming African agriculture. This initiative seeks to provide farmers with advanced tools for crop monitoring, predictive analytics, and supply chain optimisation.

By integrating AI technologies, the platform aspires to address challenges such as low productivity and limited market access that have long plagued the continent's agricultural sector. It also comes amid heightened interest and investment in AI-powered solutions globally.

However, the shadow of legal proceedings looms large. In September 2024, a U.S. federal court ordered Mmobuosi to pay over $250 million in fines and barred him from serving as a director of any public company. This judgement was rendered by default after he failed to respond to the SEC's civil complaint.

While the integration of AI into agriculture holds significant promise, Mmobuosi's legal entanglements raise questions about the viability and credibility of his new venture.

Ultimately, the success of this new venture will depend not only on technological innovation but also on his ability to resolve legal issues and restore confidence among partners and clients.