Our Reporter
Dokpesi Jr said the decisions were necessary to stabilise the organisation and restore investor confidence following what he described as a period of decline.
Speaking to journalists in Abuja during his bid for the chairmanship of the Broadcasting Organisations of Nigeria (BON), he explained that the sudden death of his father, High Chief Raymond Aleogho Dokpesi Sr, coincided with an emergency board meeting convened without his knowledge, forcing him to intervene to protect the company.
He disclosed that on May 29, 2023—the day his father died and President Bola Tinubu was inaugurated—DAAR Communications’ share price had fallen sharply from ₦5 to 20 kobo, reflecting eroded investor confidence.
According to him, the situation made decisive action unavoidable, noting that sentiment could not override the need for survival and long-term growth.
Dokpesi Jr acknowledged that the transition process was difficult, lasting over a year, and complicated by internal resistance, outstanding salary obligations and tensions within the organisation.
He said four out of the company’s six business arms are now fully self-sufficient, while the remaining two are steadily progressing toward financial independence, a development he described as evidence that the decisions taken were correct.
While repeatedly apologising to Akiotu and other exited executives for any hurt feelings, Dokpesi Jr insisted that the leadership overhaul was the right choice and has helped stabilise the company and restore confidence.
He added that if elected BON chairman, he would apply similar principles of consultation, consensus-building and stability to strengthen Nigeria’s broadcasting industry.
