Chairman of DAAR Communications Plc, Raymond Dokpesi Jr, has revealed how sweeping and, at times, painful leadership decisions were taken to rescue the media group from collapse following the death of its founder, Raymond Dokpesi Sr.
Dokpesi Jr spoke in Abuja while declaring his intention to contest for the chairmanship of the Broadcasting Organisations of Nigeria (BON), using the opportunity to reflect on the crisis that engulfed DAAR after his father passed away on May 29, 2023.
According to him, the organisation was already in a fragile state long before his father’s death, with investor confidence badly eroded.
“On the day my dad passed away, DAAR’s share price was 20 kobo, down from the five naira it was listed at. That alone showed how much confidence had been lost,” he said.
Dokpesi Jr explained that despite his father’s vast political connections and industry influence, the company continued to slide while the broader broadcasting sector expanded.
“If things were that bad with my dad alive, it would have been suicidal to continue on the same path. Something had to give.”
He disclosed that an emergency board meeting was convened shortly after his father’s death without his knowledge — a move that forced him to intervene to stabilise the company and restore proper corporate governance.
The transition, he admitted, was far from smooth. Resistance from some members of the old management team, unpaid salaries, and internal tensions slowed the process, but he insisted the overhaul was unavoidable.
Today, Dokpesi Jr says DAAR is steadily recovering.
“Out of six organs of the company, four are already fully self-sufficient. The remaining ones are catching up, and by the end of the year, I’m confident they will also stand on their own.”
He said salary stability was treated as a non-negotiable priority under the new leadership.
“I told them: salaries must be line-one expenditure. Staff welfare had to come first.”
Dokpesi Jr also issued a public apology to former Group Managing Director Tony Akiotu and other exited executives, acknowledging that the restructuring process may have caused personal hurt.
“I sincerely apologise for any feelings that were offended. But without regret, I believe the decisions were right — and the results are already speaking.”
He noted that investor confidence is gradually returning, stressing that the decisions were guided by long-term survival, not sentiment.
On his ambition to lead BON, Dokpesi Jr said his focus would be on unity, professionalism, and sustainability within the broadcasting industry.
“Our objective is to serve the industry, build consensus between public and private broadcasters, and ensure a fair, accountable, and thriving sector.”
