DAAR Communications Plc insists on shareholding records manipulation despite CAC denial

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DAAR Communications Plc has denied reports dismissing alleged manipulation of its shareholding records on the Corporate Affairs Commission (CAC) portal after a cyber attack, insisting the discrepancies do not align with the company’s records.

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In a statement posted on NGX Group on Wednesday and signed by the company secretary, Jennifer Egbaran, which responds to a publication by Nairametrics on 29 April titled “CAC denies manipulation of DAAR Communications records after cyber attack,” the company said it neither authorised nor contributed to the report.

The chairman of DAAR Communications Plc, Raymond Dokpesi Jr., earlier alleged a “grave” manipulation of the company’s records on the portal of the CAC, after the corporate agency faced cyber attacks on its information system in April.

Subsequently, CAC denied the allegations of manipulated records on its portal, describing the claims as “false and misleading”.

Disclaimer

DAAR Communications, in its clarification on Wednesday, stated that it had earlier notified the Nigerian Exchange Limited (NGX), the Securities and Exchange Commission (SEC), and the CAC about discrepancies observed in its shareholding records on the CAC portal, but did not authorise or contribute to the publication denying the discrepancies.

“DAAR Communications Plc (DAARCOMM or “the Company”) refers to the recent online publication by Nairametrics dated 29 April 2026 titled ‘CAC denies manipulation of DAAR Communications records after cyber attack.’ The Company wishes to provide the following clarification in compliance with Rule 17:10 (Dealing with Rumours) of the Rulebook of The Exchange, 2015 (Issuers’ Rule):

“The Company notes that the publication references statements attributed to the Corporate Affairs Commission (CAC) regarding its records. DAARCOMM neither authorised nor contributed to the publication.

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“The Company had previously notified Nigerian Exchange Limited (NGX), the Securities and Exchange Commission (SEC), and the Corporate Affairs Commission (CAC) of discrepancies observed in its shareholding records on the CAC portal,” the statement read.

The company clarified that no changes to its shareholding structure had been approved by its board or carried out through statutory procedures.

According to DAAR Communications, any discrepancies currently reflected on the CAC portal do not correspond with the company’s official records and are still under review with relevant authorities. It added that all filings submitted to the CAC were made in accordance with applicable laws and regulatory requirements.

“For clarity, no changes to the Company’s shareholding structure have been approved by the Board or effected through the applicable statutory processes.

“Any variance currently reflected on the CAC portal does not align with the Company’s records and remains subject to ongoing review and engagement with the relevant authorities.

“The Company confirms that all its filings with the CAC have been made in accordance with applicable laws and regulatory requirements,” the communications firm explained.

The company further said it would continue to engage with regulators, including the SEC, CAC, and NGX, through official channels to resolve the issues identified.

Stable operations

DAAR Communications also assured shareholders and investors that its operations remain stable and uninterrupted, noting that its broadcast, commercial, and digital activities continue to run efficiently without disruption.

“DAARCOMM will maintain a transparent and cooperative relationship with its regulators, including the SEC, CAC, and NGX, and will continue to engage through appropriate official channels to resolve the identified discrepancies.

“The Company confirms that its operations remain stable and uninterrupted. All broadcast, commercial, and digital activities across its platforms continue to run efficiently with no impact arising from the issues referenced in the publication,” the company said.

It reiterated its commitment to corporate governance and compliance with the Companies and Allied Matters Act (CAMA 2020), the Nigerian Code of Corporate Governance, and other regulatory requirements.

It advised shareholders and the investing public to rely on official disclosures from the company and approved regulatory platforms when seeking information about the matter.

READ ALSO: Daar Communications’ majority owner alleges share manipulation at CAC

“Shareholders and the investing public are advised to rely on the Company’s official disclosures and to exercise caution in interpreting third-party publications. Official information is disseminated through the NGX, the Company’s communication channels, and other approved regulatory platforms.

“The Company will continue to keep the market informed of any material developments in line with its disclosure obligations,” the company added.