DAAR Communications Plc has rejected claims that its shareholding records were not manipulated on the Corporate Affairs Commission (CAC) portal, maintaining that discrepancies remain despite CAC's denial. In a statement filed with NGX Group on Wednesday and signed by company secretary Jennifer Egbaran, the firm stated it had previously notified NGX, the Securities and Exchange Commission (SEC), and CAC of irregularities in its shareholding data. This follows a 29 April 2026 Nairametrics report titled "CAC denies manipulation of DAAR Communications records after cyber attack," which DAAR Communications said it neither authorised nor contributed to.
The company clarified that no changes to its shareholding structure had been approved by its board or executed through statutory procedures. It emphasized that any variances currently visible on the CAC portal do not match its official records and are under review with relevant authorities. All filings submitted to the CAC, DAAR Communications stated, were made in compliance with applicable laws and regulatory requirements.
Raymond Dokpesi Jr., chairman of DAAR Communications Plc, had earlier alleged "grave" manipulation of the company's records on the CAC portal following cyber attacks on the agency's information systems in April. CAC subsequently dismissed the allegations as "false and misleading." DAAR Communications affirmed it would continue engaging regulators through official channels to resolve the discrepancies. The company assured shareholders that its operations remain stable, with broadcast, commercial, and digital activities continuing without disruption.
DAAR Communications claims discrepancies in its CAC shareholding records while also saying no board approval was given for any changes, creating a contradiction in how such errors could occur without internal oversight. The company has not explained how unauthorised data changes appeared on a government portal despite prior notifications to regulators. Shareholders are left uncertain about the integrity of official filings and the effectiveness of the CAC's system post-cyber attack. The ongoing review offers no timeline for resolution, leaving investors in limbo.
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