The Corporate Affairs Commission has denied allegations that it manipulated the records of DAAR Communications PLC following a recent cyberattack on its system.
The Commission disclosed this in a public notice shared on its X page on April 29, 2026.
The clarification comes amid reports suggesting that the cyber incident may have affected company data on the Commission’s portal.
What they are saying
The Commission described the allegation as false and misleading, insisting that no company data was altered or compromised.
- “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 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 Commission emphasized that it had already taken steps to investigate the dispute in line with its statutory responsibilities.
More insights
According to the Commission, the ownership dispute involving DAAR Communications PLC dates back to 2024.
- It noted that a formal complaint was submitted by one of the shareholders, prompting regulatory intervention.
- The Commission said it subsequently exercised its statutory powers to investigate the matter and invited all parties for arbitration earlier in 2026.
The Commission urged media organisations to adhere to professional standards by verifying information before publication, and stressed the importance of balanced reporting to avoid misinformation that could affect public trust and investor confidence.
Backstory
DAAR Communications Plc and DAAR Investment & Holding Company Limited (DIHL) had earlier raised concerns over alleged fraudulent alterations of shareholding records on the CAC portal.
- The allegations were disclosed in a statement signed by the company’s Chairman, Raymond Dokpesi Jr. and reported by Africa Independent Television (AIT) on April 29, 2026.
- The company is demanding an immediate forensic investigation into what it described as serious irregularities within the corporate registry system.
- According to the company, its verified 2024 records show DIHL holding 4,890,523,000 shares (61.13%), a position it insists has not changed.
DAAR claimed that recent entries on the CAC portal reflect an increase in DIHL’s shareholding to 5,016,418,000 shares, representing an unexplained rise of over 125 million shares.
The company maintained that no share transfers, acquisitions, or board-approved changes were made to justify the adjustment.
- “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 further alleged that the Corporate Affairs Commission had not adequately addressed its complaints despite petitions submitted since October 2025, It claimed limited access to key records and audit trails, raising concerns about transparency.
What you should know
Recent developments show that the Corporate Affairs Commission has been actively addressing system security and regulatory issues in Nigeria’s corporate space.
- Nairametrics reported that the Commission recently flagged a security breach and urged users to update their credentials, following concerns about unauthorized access to its portal.
These developments highlight the Commission’s dual focus on improving digital security and expanding access to formal business registration in Nigeria.
