The Corporate Affairs Commission (CAC) has firmly denied allegations that it manipulated the records of DAAR Communications PLC following a recent cyberattack on its system, describing the claims as “false and misleading.”
In a public notice shared on its X page on April 29, 2026, the Commission dismissed reports suggesting that the cyber incident compromised company data on its portal, insisting that the integrity of its records remains intact.
“The attention of the Corporate Affairs Commission (CAC) has been drawn to an online publication alleging manipulation of the records of DAAR Communications PLC on the Commission’s portal, purportedly as a result of the recent cyberattack on our system,” the statement read.
“The allegation is false and misleading. No data of any company was manipulated, tampered with, or altered.”
“The integrity of all records on our portal remains intact, secure, and fully protected. Shareholders of DAAR Communications PLC have been in dispute over the ownership structure of the company since 2024.”
The CAC noted that the controversy is rooted in a long-running ownership dispute among shareholders of DAAR Communications PLC, which it said dates back to 2024.
According to the Commission, a formal complaint by one of the shareholders triggered regulatory intervention. It added that it had since exercised its statutory powers to investigate the matter and invited all parties to arbitration earlier in 2026.
The Commission also urged media organisations to uphold professional standards by verifying information before publication, stressing that inaccurate reporting could undermine public trust and investor confidence.
The denial follows earlier claims by DAAR Communications Plc and its affiliate, DAAR Investment & Holding Company Limited (DIHL), alleging fraudulent alterations to shareholding records on the CAC portal.
In a statement signed by the company’s Chairman, Raymond Dokpesi Jr., and reported on April 29, 2026, the company called for an immediate forensic investigation into what it described as serious irregularities within the corporate registry system.
The company maintained that its verified 2024 filings show DIHL holding 4,890,523,000 shares, representing 61.13 per cent, and insisted that this position has not changed.
However, it claimed that recent entries on the CAC portal indicate an increase to 5,016,418,000 shares—an unexplained rise of more than 125 million shares.
“No transfer of shares, no additional acquisitions, and no board-approved changes have taken place, any data deviating from the 2024 filings is a fraudulent fabrication,” the company said.
DAAR Communications further alleged that the CAC had not adequately addressed its complaints despite petitions submitted since October 2025, adding that it had been granted limited access to key records and audit trails—raising concerns about transparency in the corporate registry system.
Boluwatife Enome
