The Corporate Affairs Commission (CAC) has rejected accusations of altering DAAR Communications PLC’s records on its portal after a recent cyber breach. In a notice posted on its X account, the regulator called the claims baseless, affirming that no company data was tampered with and all records remain secure. CAC recently warned of a portal security breach, urging credential updates. This underscores efforts to bolster digital safeguards while promoting business registrations in Nigeria.
This comes after DAAR Communications and its affiliate, DAAR Investment & Holding Company Limited (DIHL), accused CAC of fraudulent shareholding updates. In a statement by Chairman Raymond Dokpesi Jr., aired on AIT April 29:
- 2024 records list DIHL with 4,890,523,000 shares (61.13%).
- Recent portal data shows 5,016,418,000 shares—an unexplained 125 million share increase without transfers, acquisitions, or board approval.
- DAAR demands a forensic probe, citing ignored petitions since October 2025 and limited record access.
Key Statements from CAC
- It dismissed online reports linking the alleged changes to the cyber incident as false.
- CAC highlighted an ongoing shareholder dispute over DAAR’s ownership since 2024, which it is investigating per its mandate, including arbitration efforts in early 2026.
- The agency called on media to verify facts for balanced coverage to protect public trust and investors.
