Raymond Dokpesi Jr, Chairman of the Board of DAAR Communications Plc, has issued an apology to Tony Akiotu and other former management members over the handling of their exit from the company.
But he maintained that the leadership changes implemented after his father’s death were necessary for the organisation’s survival and long-term growth.
Speaking to journalists in Abuja during his campaign for the chairmanship of the Broadcasting Organisations of Nigeria (BON),
Dokpesi Jr explained that the sudden death of his father, High Chief Raymond Aleogho Dokpesi Sr, coincided with an emergency board meeting that took place without his knowledge.
He said he had to intervene to protect the company from further instability.
He revealed that on May 29, 2023—the day his father passed away and President Bola Tinubu was inaugurated—DAAR Communications’ share price plunged from N5 to 20 kobo, reflecting the collapse of investor confidence.
“Decisive action was unavoidable. Sentiment could not override the need for survival and long-term growth,” Dokpesi Jr said.
He stressed that stabilising the company and restoring investor trust were his top priorities.
He acknowledged that the transition process was challenging, lasting over a year, and complicated by internal resistance, outstanding salary obligations, and tensions within the organisation.
Dokpesi Jr noted that four of the company’s six business arms were now fully self-sufficient, while the remaining two were steadily progressing toward financial independence—a development he described as proof that the decisions taken were correct.
While repeatedly apologising to Akiotu and other former executives for any hurt caused by the transition, Dokpesi Jr insisted that the leadership overhaul was essential.
“If elected BON chairman, I would apply the same principles of consultation, consensus-building, and stability to strengthen Nigeria’s broadcasting industry,” he added.
