A legal dispute before the Federal High Court in Abuja has brought the integrity of the Corporate Affairs Commission (CAC)’s electronic records under scrutiny, following allegations that the shareholding structure of DAAR Investment & Holding Company Limited (DIHL), the parent company of DAAR Communications Plc, was altered without due legal process.

The suit, filed by the Chairman of DAAR Communications Plc, Chief Raymond Paul Dokpesi Jnr., challenges changes allegedly made to the company’s share register on the CAC online portal. He claims the alterations were effected without probate, valid transfer documents, or the consent of the affected shareholders.

According to court documents, DIHL’s shareholding, as contained in CAC Form 2A dated January 28, 2008, showed that the late founder of DAAR Communications, Raymond Aleogho Dokpesi, held 300,000 shares, representing 71.43 per cent of the company’s equity. The remaining shares were held by Raymond Paul Dokpesi Jnr., Aishatu Dokpesi, Ade Orekoya, and the late Engr. Adamu Biu.

However, the claimants alleged that an electronic report generated from the CAC portal in October 2025 reflected a significantly altered ownership structure. They claimed that the late founder’s shares had been redistributed among several family members despite the absence of probate or letters of administration.

The suit further alleged that the revised register included two inactive entries under the name “Oluwatosin Dokpesi”, a name the claimants insist had never appeared in DIHL’s corporate records. It also claimed that by March 2026, the shares of William Dokpesi had been reduced by 83,333 units, while a new shareholder, Catherine Anuoluwapo Dokpesi, a minor born in 2009, had been allotted the same number of shares, with her email address listed as that of her mother.

The claimants argued that no Letters of Administration or Probate had been issued for the estate of the late founder as of April 2026, citing confirmations obtained from probate registries in the Federal Capital Territory, Edo, and Lagos states.

They contend that under the Companies and Allied Matters Act (CAMA) 2020, shares belonging to a deceased shareholder cannot be transferred without court-issued probate and valid transfer instruments.

According to the court filings, several family members whose names appeared on the revised register, including Raymond Paul Dokpesi Jnr., William, Raji, and Halima Dokpesi, have denied knowledge of the alleged share allotments.

The only reported defence of the changes came from Engr. Peter Aiyeghena Dokpesi, who reportedly attributed the alterations to a company restructuring carried out in 2012.

The claimants, however, argued that CAC’s physical records contain no evidence of any share transfer or restructuring affecting the disputed shares during that period.

The suit also raises questions about the conduct of the Corporate Affairs Commission. According to the claimants, the Commission acknowledged receipt of a petition on November 24, 2025, and requested 14 days to investigate the matter. They alleged that further changes were made to the online portal during that period without the records being frozen.

They further claimed that CAC has neither produced IP logs, user identification records, nor documentary evidence explaining the alterations, nor granted requests to inspect the company’s physical file. As of June 16, 2026, the Commission had not filed a formal defence in court or issued a public statement on the allegations.

The dispute also extends to DIHL’s reported investment in DAAR Communications Plc. The claimants alleged that the CAC portal reflected an increase of approximately 125.9 million shares in DIHL’s holdings in the publicly listed broadcaster.

However, they said First Registrars, in a letter dated April 2026, confirmed that no such transfer had been recorded in its register.

The claimants argue that any discrepancy between the CAC records and the official share register of a listed company could raise concerns regarding regulatory disclosure obligations.

The Originating Summons, filed on April 27, 2026, seeks court orders restoring DIHL’s share register to its 2008 position, compelling the CAC to investigate the alleged alterations, and awarding N50 million in damages.

In addition to the court action, petitions have reportedly been submitted to the Securities and Exchange Commission, NGX Regulation, the Department of State Services, and the Nigeria Police Force, requesting investigations into the matter.

The case is expected to determine whether the discrepancies arose from an unlawful alteration of CAC’s electronic records or constitute a dispute over family succession and ownership.

The allegations contained in the suit remain unproven, and the issues will be determined by the court. (TRIBUNE)

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