DAAR Communications Alleges Share Fraud at CAC

Raymond Paul Dokpesi Jr., Chairman of DAAR Communications, has accused the Corporate Affairs Commission (CAC) of massive share fraud and registry compromise. He claims that the company's sharehold records were unlawfully manipulated, resulting in an unauthorized increase from 4,890,523,000 shares to 5,016,418,000 shares.

Dokpesi Jr. asserts that there have been no transfers or acquisitions approved by the board, and the discrepancies violate statutory regulations. He highlights that the alleged fraud includes the redistribution of shares belonging to the deceased founder, High Chief Raymond Aleogho Dokpesi, without proper legal documentation.

The company has called for an immediate forensic investigation by the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX) to address these issues. Despite internal family legal disputes, Dokpesi Jr. reassured investors of the company's stability, with an annual general meeting scheduled for April 30, 2026.