Raymond Dokpesi Jr, Chairman of DAAR Communications, has defended the management shake-up following the sudden passing of his father, Chief Raymond Aleogho Dokpesi Sr, saying the tough decisions were necessary to stabilise the company and secure its future.
Speaking in Abuja, Dokpesi Jr explained that the exit of long-serving executives, including Mr. Tony Akiotu, was a difficult but inevitable step to ensure the continuity and growth of the organisation. The transition, he said, was carefully managed to avoid tensions and maintain investor and stakeholder confidence.
He revealed that the company faced serious challenges immediately after his father’s death, including a sharp drop in investor confidence and declining share prices. Dokpesi recounted that he was drawn into both family responsibilities and urgent company matters, only to discover that the company secretary had convened an emergency board meeting without his knowledge—prompting him to consider formal petitions to safeguard corporate governance.
Finalising the exit of the long-serving management team took over 14 months, allowing him to balance company stability with family mourning and staff emotions.
“It is also true that whilst leaving, they had salary arrears and other obligations which we as an organisation had to fulfil. But they had led management for the past 15 years and had built up salary arrears into billions,” he said.
Apologising to the former executives, he added: “I will continuously apologise to Mr. Tony Akiotu and the exited management staff for any feelings that were hurt by the actions taken. But without regrets, I believe it was the right decision, and the proof is in the pudding—which we are already tasting, and it tastes sweet.”
Dokpesi said the leadership changes enabled the company to prioritise salary obligations and strengthen operational autonomy. He noted that DAAR Communications has since made steady progress, with most business units now self-sufficient and others on track to achieve full independence by year-end.
The chairman credited the recovery and improved operational efficiency to decisive corporate governance measures taken during the transition and highlighted that rising share prices reflect returning investor confidence, signalling that the organisation is steadily regaining its footing.