DAAR Communications Responds to Allegations of Shareholding Record Manipulation
DAAR Communications Plc has refuted claims suggesting that its shareholding records on the Corporate Affairs Commission (CAC) portal were tampered with following a cyberattack. The company maintains that the discrepancies reported do not align with its official records.
A statement released on NGX Group, signed by Secretary General Jennifer Egbalan, addressed a publication by Nairametrics dated April 29, which stated that the CAC denied any manipulation of DAAR’s records. The company emphasized that it did not authorize or contribute to this report.
Chairman’s Concerns Over Altered Records
Previously, DAAR Communications Chairman Raymond Dokpesi Jr. had asserted that the cyberattack in April had led to significant alterations in the company’s records on the CAC portal. In response, the CAC labeled these claims as “false and misleading,” denying any manipulation of records on their platform.
Clarification on Discrepancies
In its statement, DAAR Communications reiterated that it had informed the Nigeria Exchange Limited (NGX), the Securities and Exchange Commission (SEC), and the CAC about the discrepancies noted in its shareholding records on the CAC portal. However, the company clarified that it did not authorize or contribute to the publication disputing these discrepancies.
DAAR noted, “The change in shareholding structure has not been approved by our board of directors and was not implemented following statutory procedures,” reinforcing that the discrepancies present on the CAC portal do not reflect its official records. This situation is currently under investigation by relevant authorities, and all applications submitted to the CAC were compliant with legal and regulatory standards.
Commitment to Regulatory Compliance
The firm stressed that it would continue to collaborate with regulatory bodies, including the SEC, CAC, and NGX, to address any identified issues. DAAR Communications reaffirmed that no changes to its shareholding structure had been sanctioned by the board of directors or conducted through appropriate statutory processes.
Additionally, the company assured stakeholders that its operations remain stable and uninterrupted, with broadcast, commercial, and digital activities continuing to function seamlessly despite the ongoing inquiries.
Reassuring Stakeholders
DAAR Communications expressed its commitment to maintaining transparency with regulatory authorities, highlighting its adherence to the Corporate Governance and Companies and Allied Matters Act (CAMA 2020) and the Nigeria Code of Corporate Governance. The company advised shareholders and the investing public to rely on its formal disclosures and sanctioned regulatory channels for accurate information regarding these matters.
In light of these developments, DAAR has urged shareholders and public investors to be cautious when interpreting external publications and to seek information through official channels. The company will keep the market informed of any material developments, fulfilling its disclosure obligations through appropriate regulatory platforms.
