Raymond Dokpesi Jnr speaks on why DAAR Communications retired father’s wife, Imoni Amarere, others

Raymond Dokpesi Jnr speaks on why DAAR Communications retired father’s wife, Imoni Amarere, others

Raymond Dokpesi Jnr, the Chairperson of DAAR Communications, has provided detailed insights into the recent management restructuring within the company.

This strategic move, which led to the retirement of several long-serving directors, is part of an effort to comply with regulatory mandates and position the company for future growth.

In a recent memo, DAAR Communications Plc, the parent company of Raypower FM, AIT, and Faaji FM, confirmed the departure of key personnel, including Tony Akiotu, Oluwatosin Dokpesi, Ambrose Somide, Anthony Uyah, Paulyn Ugbodagha, and Mary Lawrence-Dokpesi. Additional executives affected by the change include Faith Ikems, Imoni Amarere, John Iwarue, and Johnson Onime. These retirements are set to take effect on October 31, 2024.

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In a press release from Abuja, Mr. Dokpesi Jnr emphasized that the decision was not based on personal preferences.

He clarified, “This isn’t a matter of personal choice. If it were, I would prefer to continue benefiting from the experience and expertise of our management team for a longer period.”

He further explained that, as a publicly traded company on the Nigerian Stock Exchange, DAAR Communications is obligated to adhere to regulations established by the Securities and Exchange Commission and the corporate governance code. These guidelines limit directors to a maximum of two five-year terms, a rule that underpins the recent changes. “Our duty to our shareholders goes beyond individual opinions or desires,” he added.

Mr. Dokpesi Jnr also acknowledged that many of the retiring directors have been with the company since its inception, with some having served for up to 27 years.

He noted that their retirement had been anticipated for several years, stating, “This decision should have been implemented five, six, or even seven years ago.”

Raymond Dokpesi Jnr speaks on why DAAR Communications retired father’s wife, Imoni Amarere, others