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Tag: Daar Communications Plc

  • AIT grows revenue to N4.6b in 2018

    Nigeria’s pioneer private broadcasting company, Daar Communications Plc has grown its revenue from  N 3.712 billion in 2017 to a N4.637 billion in the 2018 financial year.

    However, the increase in revenue of 25 per cent did not result in profitability for the company as it suffered a loss of N2.169 billion after its tax obligations to the Nigerian Government.

    The Chairman of the Group, Chief Raymond Dokpesi Jnr. made the revelation at the weekend in Abuja at the broadcast Company’s 10th and 11th Annual General Meeting [AGM] .

    Dokpesi blamed the loss on the Company’s adoption of the International Financial Reporting Standard  [IFRS] Accounting policy  which is different from the previous accounting model in use by most companies in Nigeria before now.

    According to the Daar Communications Plc Chairman: “I the midst of operating challenges, your company recorded gross earnings of N3.712 billion in 2017as against the 2016 earnings of N3.733 billion , representing a marginal decline of 0.56 per cent revenue. Conversely, the earnings of 2018 increased to N4.637 billion , representing 25 per cent increase over 2017 earnings.’’

    He continued : “ However, the loss after taxation in 2018 was N2.169 billion while 2017 loss after taxation was N0.482 billion , representing an increase of 350 per cent.  The astronomical increase in operating losses in 2018 was mainly as a result of of the adoption of of the IFRS – 15 on Revenue Recognition on contracts from customers.’’

    Read Also: Waiting for Dangote refinery

    Dokpesi Jnr. then informed the shareholders that in order to comply with the dictates of the IFRS -15 models the Board has agreed to review all her revenue contracts and consequently make appropriate  provisions for all delinquent  accounts  in line with the new accounting standard.

    He also told shareholders that the sum of N1.3 billion was provided for in the 2018 financials for possible doubtful debt which they represent. He assured them that  every necessary action including legal option was on the card for the recovery of any of its  their debtors.

    Another challenge that contributed to the loss, according to the Chairman was the ever escalating cost , particularly  as it relates to energy cost  which is heavily dependent on diesel and foreign exchange for broadcast equipment which are sourced from overseas which is sourced from the parallel market at a very high cost.

    He assured shareholders that the Board was optimistic that in  a matter of time, following an on-going restructuring in the Group, “shareholders will smile as all indications points to a return to profitability very soon.”

    According to Dokpesi, “as part of the repositioning programme of the Company, we have acquired the latest modern studios and other other broadcast infrastructure that the industry can bost of. We are also integrating our operations with the most robust software in order to fully automate our operations to cope with modern broadcasting anywhere in the globe . the Company has also signed on various content production agreements with reputable producers for the production of high- end content necessary to increase its audiences  and market potentials . these investments will no doubt position the company for cost effective management , increased viewership / listenership  and adequate rating for increased revenue generation,’’

     

  • Closure of AIT, others: Court orders maintenance of status quo as at May 30

    A Federal High Court in Abuja has granted an order ex-parte for the maintenance of status quo, pending the determination of a motion filed by DAAR Communications Plc in its suit challenging the suspension of its operating licence by the National Broadcasting Commission (NBC).

    Justice Inyang Ekwo, in a ruling on Friday, rejected two prayers by DAAR, for restraining orders against the respondents – NBC, Federal Ministry of Information and Culture (FMIC) and the Attorney General of the Federation (AGF).

    In the first relief rejected by the court, DAAR Communications had sought to restrain the respondents “from blocking, jamming. stopping, removing from air and/or interfering with the air waves of the plaintiff/applicant in any way and manner howsoever, in its broadcast and airing of news, views, documentaries, or any other legitimate broadcast material that is usually associated with television, radio or social media broadcast pending the hearing and determination of the motion on notice filed along with this application.”

    It also, in the second relief, sought to restrain the respondents “from invading the premises of the plaintiff/applicant, or closing down, viet armis, the said premises, its operations or broadcast services, pending the hearing and determination of the motion on notice filed along with this application.”

    Instead, Justice Ekwo granted the alternative relief: “an order for the maintenance of status quo ante bellum as at May 30, pending the hearing and final determination of the motion on notice filed along with this application.”

    Justice Ekwo said the applicant, DAAR, would be penalised should it turn out, at the end of the day, that the order ought not to have been made.

    The judge noted that, by the issues raised in its application by DAAR Communications, the respondents deserved to be heard.

    He ordered the respondents – NBC, FMIC, AGF – “to appear in court on the next date to show cause why the prayers in the applicant’s motion should not be granted.”

    Read Also: Atiku condemns shutdown of AIT, says free press in danger

    Justice Ekwo adjourned further proceedings till June 13.

    Daar Communications stated, in a supporting affidavit, that it is the first privately owned independent broadcasting organisation in Nigeria, having been licensed to broadcast on television and radio since 1996 and currently, operating the African Independent Television (AIT), Ray Power 100.5 fm, Faji FM and DARSAT stations.

    “Plaintiff/applicant has in the best tenets and tradition of broadcast and in compliance with section 22 of 1999 Constitution of the Federal Republic of Nigeria, 1999 as altered, carried out its duties legally, legitimately, morally and nationalistically, in informing, educating and entertaining Nigerians both at home and in the diaspora on sundry matters, which activities have energized and contributed to national development and also nurtured, widened, deepened and strengthened democracy, rule of law, human rights and anti-corruption in Nigeria.

    “Since the emergence of the present government, the plaintiff /applicant has been under its close surveillance and undue monitoring of its operations by the present government which wrongly believes that the plaintiff/applicant had been too supportive of the immediate past government.

    “That sometimes on  April 16, agents of the Federal Government represented by the 1st  defendant (NBC), in a gestapo- like- manner, attacked and pulled down the two buildings and gates leading to the plaintiff/applicant’s operational headquarters which damage and destruction run into hundreds of millions of naira.

    “The defendants and their agents have been writing a series of letters with which they harassed and intimidated the plaintiff over the contents of their broadcast, particularly of late, concerning its social media segment of its morning flagship broadcast show called Kaakaki (the African Voice).

    “Credible information just reaching the plaintiff has it that the defendants have concluded plans to invade and shut down the premises of the plaintiff and/or part thereof, in the next few days.”

     

  • Defamation: Court adjourns Dokpesi’s suit against Lai Mohammed, AGF 

    FCT High Court, Apo, on Monday adjourned until Oct.23, the alleged N5billion defamation suit, instituted by Chief Raymond Dokpesi against the Minister of Information and Culture and Attorney-General of the Federation and Minister of Justice.

    Dokpesi, a chieftain of the People’s Democratic Party (PDP) and chairman emeritus of DAAR Communications Plc, filed the suit on April 30, seeking N5 billion damages from the defendants for alleged defamation.

    Read Also:‘N2.1b fraud’: Dokpesi received funds without executing contract, says witness

    He alleged that Information Minister, Lai Mohammed and the Attorney-General, Abubakar Malami (SAN), defamed his character by the inclusion of his name on the treasury looters’ list.

    The plaintiff had told the court that the Information Minister had on March 30, during a press conference, portrayed him as “a corrupt and crooked person, a dishonest man and a thief.”

    Dokpesi through his counsel, Chief Mike Ozekhome (SAN), told the court that the minister’s action negatively affected his reputation and that his image had been seriously injured.

    The plaintiff said he had suffered considerable distress, odium, obloquy, ridicule in political analysis in the media.

    Dokpesi besides the N5 billion damages,  is also asking the court to order the defendants to publish a full retraction of the said publication.

    He further asked the court to order the defendants to tender an unreserved apology to him in all the major electronic and print media outlets in the country.

    He further urged the court to grant a perpetual injunction restraining the defendants, their servants, agents, partners, representatives, from further writing, publishing defamatory words about the plaintiff.

    At the resumed hearing on Monday, the plaintiff’s counsel, Ennaemeka Adasu, holding brief for Ozekhome, informed the court that the matter was slated for hearing and all the five plaintiff’s witnesses were in court.

    He, however, told the court that the defendants’ counsel only this morning in court, served the plaintiff with a notice of preliminary objection on the jurisdiction of the court to entertain the suit.

    Adasu , who argued that the service on his client in court this morning was done in bad faith and in the circumstance, requested for an adjournment to enable him respond to the objection.

    Justice  Adegboyega Adeniyi, upheld the plaintiff counsel’s submission and adjourned  the case until Oct. 23 for hearing of the preliminary objection.

     

  • Looters list: Dokpesi sues Lai Mohammed for N5b

    Daar Communications Plc chairman High Chief Raymond Dokpesi has sued Minister of Information Lai Mohammed at the High Court of the Federal Capital Territory over the publication of his name as a looter.

    He is seeking N5billion damages for alleged defamation of character.

    He is also praying for an order compelling the defendants, including Attorney-General of the Federation Abubakar Malami (SAN), to publish a full retraction of the defamatory publications and to apologise to him.

    Dokpesi said the defendants allegedly sent his name as a looter to the United State Embassy, which in turn notified him on March 16 that his visa had been revoked.

    The US Embassy, he said, told him it was because his name was among a looters list submitted to it by the Federal Government.

    The plaintiff said the publication of his name as a looter was malicious since he has not been convicted by any court of competent jurisdiction.

    Dokpesi prayed that the retraction and apology to him be published both in the social media and in newspaper and televisions stations.

    In the suit filed on Monday through his lawyer Chief Mike Ozekhome (SAN), Dokpesi is also praying for a perpetual injunction restraining the defendants or their agents from further making any defamatory publications against him, and N50million as cost of the action.

    The publications, he said, have prejudiced his constitutionally guaranteed rights to presumption of innocence until proven guilty, and that his right to fair hearing as enshrined in the Constitution has been blatantly violated.

    “The defendants’ defamatory publications are malicious and calculated to overreach and prejudice my fair trial and for purposes of stampeding and cowing the court to convict me at all cost by agreeing with the defendants’ skewed position,” the plaintiff said.

    Dokpesi said on March 30, the defendants allegedly defamed him by publishing his name as treasury looter in a news conference on the basis that he is on trial for allegedly receiving N2.2billion from the office of the National Security Adviser (ONSA).

    According the plaintiff, the defamatory words were understood to mean that he is a corrupt and crooked person, a dishonest man and a thief, unfit to hold public office, incapable of being trusted with public funds and a man lacking in integrity.

    “The defamatory words of the defendants were carefully schemed and embarked upon by the defendants as a way of vendetta to denigrate, disgrace, embarrass, humiliate and subject me to inhuman and degrading treatment before right thinking members of the public and the society at large,” he said in a supporting affidavit.

    Dokpesi claimed that as a result of the publications, his reputation has been seriously injured as he has suffered considerable “distress, odium, obloquy, ridicule, anxiety” and castigating media analyses.

    The plaintiff added that he has received calls from people locally and internationally who “expressed their disappointment that they never knew that he was a man of dubious character” despite his distinguished career in the private and public sectors.

    The plaintiff said he built his reputation in the private and public sectors, having been an assistant lecturer in Marine Transport Economics at the University of Gdansk, Chief Planning Officer at the Nigerian Ports Plc, Head of Water Transport Division at the Federal Ministry of Transport and Aviation, Chairman/Chief Executive Officer of Baldok Shipping Lines Ltd and chairman of Daar Communications Plc, among others.

    He said he also held several national appointments, and has received countless awards and recognition.

    Dokpesi said his friends, professional colleagues and family members have been looking down on him since the publications, with many of them avoiding him “as they now see him as a questionable, dubious and dishonest person.”

    The plaintiff said unless the defendants are perpetually restrained, they would continue to do damage to his reputation.

    No date has been fixed for hearing of the suit which was filed on Monday.

  • Dasukigate: ‘Dokpesi received N2.1 bn for doing nothing’

    Dasukigate: ‘Dokpesi received N2.1 bn for doing nothing’

    Mr. Abubakar Madaki, a prosecution witness in the on-going trial of former Chairman, DAAR Communications Plc, Mr Raymond Dokpesi, told the Federal High Court, Abuja, on Friday, that Dokpesi received money for rendering no services.

    Madaki, under cross examination by Dokpesi’s counsel, Mr Kanu Agabi (SAN), said that:”Dokpesi was paid for doing nothing, for rendering no service”.

    The witness said that the N2.1 billion, under investigation, was funds from the office of the National Security Adviser.

    According to him, all the funds in the account of the National Security Adviser are for national security.

    The witness, an operative of the Economic and Financial Crimes Commission, (EFCC) said that he was part of the team that was appointed by the commission to investigate funds meant for national security that were allegedly diverted.

    He told the court that the funds were allegedly diverted even by those who they were not entrusted to.

    When Agabi sought to know what evidence he had of the diversion, the witness said: “the funds were found in their accounts when they had no reason to take it.

    “This is because they could not account for any contract they executed for such payments.”

    Justice John Tsoho adjourned the matter until April 13 for continuation of cross examination of the witness.

    Dokpesi and his company, DAAR Investment are standing trial over the N2.1 billion received from the office of the former National Security Adviser, Sambo Dasuki.

    Read Also: Alleged N2.1b fraud: Dokpesi’s wife got over N100m, says witness

  • Dokpesi ’s alleged N2.1bn fraud trial adjourned until Feb. 6

    Dokpesi ’s alleged N2.1bn fraud trial adjourned until Feb. 6

    The Federal High Court, Abuja, has adjourned until Feb. 6, the trial of erstwhile Chairman of DAAR Communications Plc, Raymond Dokpesi, over alleged N2.1bn fraud.

    Justice John Tsoho, fixed the date after the 11th prosecution witness, Mr Gabriel Agorye, testified on Friday.

    Agorye, led in evidence by Mr Rotimi Jacobs (SAN), the prosecuting counsel, said that he withdrew N40 million for Dokpesi from his First Bank account.

    Agorye also told the court that he was Dokpesi’s personal assistant and ran errands for him.

    The witness also said that some monies were paid into his personal account which he withdrew and gave to his boss.

    Under cross examination by Mr Kanu Agabi (SAN), the witness told the court that he did not know the source of the monies that he withdrew for Dokpesi’s from his account.

    He added that he did not know if the money was proceeds of an illegitimate transaction.

    “I cannot say that the source of the money was illegitimate, and I do not know the uses to which the monies were put to,” the witness said.

    Justice Tsoho discharged the witness and adjourned the matter until Feb. 6 and 7 for continuation of trial.

    Dokpesi is being tried by the Economic and Financial Crimes Commissions ( EFCC ) over alleged N2.1 billion fraud.

    NAN

  • Calling me “Lie Mohammed’’ is mindset, price for service – Minister

    Calling me “Lie Mohammed’’ is mindset, price for service – Minister

    The Minister of Information and Culture, Alhaji Lai Mohammed, says he reads comments of people who claim not to believe what he says and coin his first name as “Lie’’.

    The minister stated this while responding to questions when he visited Daar Communications Plc on Friday in Abuja.

    He said that such comments were the mindset of the people and a price he had to pay for serving the nation.

    “People just have a mindset that whatever Lai Mohammed says cannot be true, but nobody has ever come out to say that I said `Y’ and it was `Z’ that happened.

    “For me, I will remain focused because it is a price you pay for serving your country.

    “I also see this as a deliberate strategy to whittle me down, but I must remain focused and will not be distracted,’’ he said.

    Mohammed said that some people found it difficult to separate him from “Lai Mohammed as All Progressive Congress (APC) spokesperson and Lai Mohammed, Minister of Information’’.

    “I believe sincerely that the last election was fought very bitterly and I was largely the face of the party and I kept asking them to fight me on facts, not on emotions.

    “Give me one thing that I have said which is not true.

    “There is a Yoruba proverb that says that you can only wake up somebody who is sleeping, you cannot wake up a fellow who is pretending to fall asleep,’’ he said.

    He recalled when he led local and foreign journalists on tour of the North-East on Dec. 5, 2015 and he told the world that Boko Haram war had been technically defeated.

    Mohammed said that when he made the claim nobody believed him but that today he had been vindicated.

    He said that all the schools that were closed then in the North-East had been reopened and that all the territory occupied by the terrorists had been reclaimed by the military.

    He added that recently, he led a team that flew over Sambisa forest unhindered and without traces of Boko Haram terrorists.

    “However, when you are fighting insurgency, it is not like regular war that you win at once, there will still be suicide bombing.

    “There will still be ambush but that does not mean that we have not won the war,’’ he said.

  • Shun disinformation, fake news – Minister tells media

    Shun disinformation, fake news – Minister tells media

    The Minister of Information and Culture Lai Mohammed on Friday urged the media to eschew disinformation and fake news, saying the phenomenon if left unchecked, could damage the credibility of the media and endanger the country’s peace and security.

    The Minister on a courtesy visit to the headquarters of Daar Communications Plc. owners of the African Independent Television (AIT) and Raypower radio station deplored what he called the current siege of disinformation and fake news in the country.

    “Unfortunately this dangerous trend, if not checked by the media – especially the traditional media – is capable of tearing the fabric of the society and bringing the country to its knees,” he said. 

    Alhaji Mohammed said that to make matters worse, a section of the traditional media often amplifies the disinformation and the fake news being spread on the Social Media. 

    He noted that in spite of the incursion of the Social Media, the traditional media remains the most credible platform, hence it should not join forces with the purveyors of falsehood. 

    “My greatest problem is with the traditional media because most people will probably say Social Media is what it is. But when the traditional media also latches on the same fake news and the same disinformation, then I begin to get worried for many reasons. Number one, it affects the credibility of the media itself and once the media is no longer believed, once the media loses its credibility, then it has serious consequences for the media and the society as a whole,” the Minister said. 

    Alhaji Mohammed recalled the role that disinformation, fake news and hate speeches played in the 1994 genocide in Rwanda in which over 800,000 people were killed and urged the media to draw some lessons from that unfortunate development. 

    He expressed concern that in the past few weeks, the media was saturated with false news on the health of the President, and that even when the government and the presidency promptly clarified that the President is hale and hearty, some people did not believe them because of the lies they have read in the Social Media.

    “What happened in the last couple of weeks is quite worrisome. Mr.President left for a vacation. When he was leaving, he transmitted the necessary letter to the National Assembly on who was going to act. He said during his vacation, he will also use the opportunity to carry out his routine medical check-up. Within 12 hours of leaving the country, the news was that he had died, and when that was not sustainable, they said he was critically ill.

    ”Some even went on to say that he was actually flown out of the country in an ambulance when the whole world saw when he was leaving and it was televised. For a week or so all we heard was this dangerous disinformation,” the Minister said.

    In his remarks, the Executive Chairman of Daar Communications Plc.

    Chief Raymond Paul Dokpesi, said the emergence of fake news is a global phenomenon, but noted that the Media Group has been absolutely committed to upholding the highest standard of journalism.