Nigerian billionaire Dozy Mmobuosi in the final stages of acquiring Sheffield United

NIGERIAN billionaire Dozy Mmobuosi is attempting a £90m takeover of English Championship club Sheffield United having said to be in the final stages of acquiring the Yorkshire side.

Mr Mmobuosi, a technology entrepreneur said to be worth over £7bn, is reported to be interested in the club after current owner Abdullah bin Musaid Al Saud, put the club up for sale. Sheffield United have been in a dangerous financial situation for a while and were slapped with a transfer embargo last month after they failed to pay another club money owed for a player.

With things looking dire, Mr Musaid Al Saud has put the club up for sale and Mr Mmobuosi has seeking to become the new owner. Mr Mmobuosi first made his mark when he founded a company called Tingo Mobile in Nigeria in 2001, an Agri-Fintech company that aims to help farmers mainly in Africa but also around the world, manage their sales using smartphones.

Following the success of that business, he designed and launched Nigeria’s first SMS Banking Solution called Flashmecash, which was later sold to FMCB, a chartered accountants company in London. Since then, he has set up two mobile phone assembly facilities in Nigeria to help the local population gain access to the Internet and smart phones.

Mr Mmobuosi has also gone on to become an advisor to numerous large organisations. His strategy is to help steer the strategy and design of business plans, such as investments, acquisitions and organic growth into new global markets.

In addition, Mr Mmobuosi has also set up philanthropic endeavours to stop climate change and to promote food security, promoting the idea that anyone can get safe, healthy, nutritious food anywhere in the world regardless of status. He created his own foundation in 2021, the Dozy Mmobuosi Foundation, which aims to promote the progress of Africa and create an environment where Africans can thrive.

Among other things, Mr Mmobuosi's foundation focuses on improving education, entrepreneurship, healthcare and information technology development in Nigeria. His takeover of Sheffield United would be huge boost for the club's promotion chances, as the guarantee of good backing would mean that they would not have to sell their promising talents and experienced squad members to balance the books.

Having a rich backer would also mean that the club would stand a good chance of making solid investments during the summer transfer window if they do clinch a place in England's top-flight next season. Sheffield United are currently sitting in second place in the English Championship and along with league leaders Burnley, are favourites for automatic promotion.