Chairman of DAAR Communications Plc, Raymond Dokpesi Jr., has raised the alarm over what he termed a “grave” manipulation of the company’s records on the portal of the Corporate Affairs Commission (CAC).
The allegation comes few weeks after CAC said it was reviewing a cybersecurity incident involving unauthorised access to parts of its information systems.
In a statement, Dokpesi Jr raised the alarm over what he described as an unauthorised increase in the shareholding of DAAR Communications, the parent company of Africa Independent Television (AIT) and Raypower FM.
According to the chairman, the company’s shareholding on the CAC portal was increased from 4,890,523,000 to 5,016,418,000 shares, an unexplained jump of exactly 125,895,000 shares
“Our discovery of tampered records at the Corporate Affairs Commission (CAC) shifts this from a private family dispute to a grave matter of market integrity,” he said.
Dokpesi Jr alleged that the changes amount to a calculated attempt to administer the estate of his late father, Raymond Aleogho Dokpesi, without legal authority or probate proceedings.
He said while his late father held controlling shares in DAAR Investment & Holding Company Limited (DIHL), those interests were being redistributed through the CAC portal despite the absence of letters of administration from any high court.
“Someone used the CAC’s online portal as a substitute for the Probate Registry. That is not corporate restructuring. It is an attempt to administer an estate by stealth,” the statement read.
The chairman further alleged that shares belonging to the late founder and the late Adamu Biu were redistributed without lawful probate, in violation of provisions of the Companies and Allied Matters Act (CAMA) 2020.
Dokpesi Jr expressed concern over what he described as the “administrative silence” of the CAC, alleging that the commission had denied his team access to inspect the physical documents relied upon for the alterations.
He said that despite formal petitions, pre-action notices, and meetings with CAC officials since October 2025, no corrective action had been taken.
