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Tag: Raymond Dokpesi

  • 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,’’

     

  • Dokpesi in face-off with Immigration over passport

    Media mogul, Chief Raymond Dokpesi, is having a face-off with the Nigeria Immigration Service (NIS) over alleged moves by the NIS to impound his Nigerian Passport.

    Dokpesi, who spoke with journalists in Abuja on Wednesday, narrated how he has been subjected to harassment and intimidation by the NIS since his arrival from Dubai where he had gone for medical treatment.

    According to him, his ordeal started at the Abuja Airport, shortly after arrival on Friday when where some NIS officials “arrested and detained” him for about 55 minutes for no just cause.

    “I was told that they have instructions from above to arrest me on my return but after a few phone calls and contacts, the Immigration officer at the Airport told me that he had instructions from above that I could leave and he gave me back my passport and told me that I should go and that they will reach me subsequently,” he said.

    Dokpesi, who is facing trial over alleged N2.1 billion arms deal scam, said with the leave of the Federal High Court, he retrieved his passport from the Court Registrar through a judicial process to enable him travel for treatment.

    According to him, he returned the passport to the court on Monday, in line with the condition upon which the document was released to him by the court. The court had seized his passport in the course of the trial.

    Chief Dokpesi, however, said the NIS invited him to the headquarters on Thursday and was taken to the Interrogation Room of the Comptroller General where he was grilled for about two hours.

    On what transpired during his interrogation, Dokpesi said: “They asked for my passport and I replied that I have since returned it to the Federal High Court and I availed them documents showing the court had acknowledged receiving the passport from me.

    “But the officers who interrogated me said that they had expected me to go back to the Federal High Court and get back the passport with the letter of invitation they (NIS) sent to me. But I told them that I totally defer from that line of thought.

    “I told them that if they had instruction from above requiring my passport, then they should write directly to the Federal High Court and request for the passport.

    “They were telling me that the passport was a property of the Federal Government and that the Federal Government has a right to withdraw it at any time.

    “But I am also a citizen of the Federal Republic of Nigeria and there is a judicial process, there is a rule of law. Why should we not go through the judicial process and be able to define what is required”.

    Read also: Alleged N2.1b fraud: You have case to answer, court tells Dokpesi

    The Public Relations Officer of the NIS, Mr. Sunday James confirmed that the Service indeed invited Chief Dokpesi for “official related issues” but declined to give details.

    James said: “Mr. Dokpesi is a high-profile individual so until we are able to finish the issues we are looking at, we can’t disclose them. Immigration is just doing its official assignment and when it is due for the public to know the outcome, they will know”.

    The NIS spokesman however said the Service would not act in any way as to undermine the human rights of any citizen neither will it undermine the standard of practice.

    He however said the NIS would invite Chief Dokpesi for interrogation again if there was need to do so.

  • Alleged fraud: You have case to answer, court tells Dokpesi

    …Asks him to open defence Feb 21

     

    A Federal High Court in Abuja has rejected the no-case submission made by businessman, Raymond Dokpesi and his company, Daar Investment and Holdings Company Limited in their trial on charges of alleged breach of procurement law to the tune of N2.1billion

    Justice John Tsoho, in a ruling on Wednesday, rejected the argument by the defence team led by Kanu Agabi (SAN), to the effect that the prosecution has not made out against the defendants to warrant their being called to enter a defence.

    Read Also:Alleged N2.1bn money laundering: Direct your probe at Dasuki, Jonathan, Dokpesi tells court

    The judge upheld the argument by the prosecution led by Rotimi Jacobs (SAN) to the effect that the court is, at this stage, only to establish whether or not a prima facie case has been established against the defendants, not to evaluate the evidence led and establish the guilt or otherwise of the defendants.

    Justice Tsoho said, by the evidence led by the prosecution through its witnesses, a prima facie case has been established, requiring the defendants to say their own side of the story.

    The defendants are being tied on a seven-count charge brought by the Economic and Financial Crimes Commission (EFCC).

    They are charged with money laundering, procurement fraud and accused of fraudulently receiving N2.1bn from the office of the National Security Adviser (ONSA) between January and March 2015.

     

    Details later….

  • Alleged N2.1bn fraud: Prosecution closes case in Dokpesi’s trial

    …Defence plans no case submission

     

    The prosecution in the alleged N2.1billion fraud trial involving businessman, Raymond Dokpesi, and his firm, Daar Investment and Holdings Company Limited, announced the closure of its case Monday after calling 14 witnesses.

    Lead prosecution lawyer, Oluwaleke Atolagbe made the announcement after his 14th witness; Usman Aliyu concluded his testimony before a Federal High Court in Abuja.

    An operative of the Economic and Financial Crimes Commission (EFCC), Aliyu gave details of his “analysis” of the N2.1bn allegedly paid unlawfully to Dokpesi and Daar by the Office of the National Security Adviser (ONSA) in 2015.

    Aliyu said his findings revealed that Dokpesi allegedly spent the money to acquire personal assets. He said there was no basis for the payment of the N2.1bn to the defendants.

    Aliyu said, “My investigation bordered on the N2.1bn received by Daar Investment and Holdings from the Office of the National Security Adviser, without any due process followed and without carrying out any contract for the Office of the National Security Adviser.”

    The witness was made to read from a document the various transactions relating to the transfers of various sums of money to beneficiary companies from the N2.1bn allegedly paid by ONSA into Daar’s accounts.

    According to Aliyu, “all the money paid to Archisynthensis Limited was for renovation and construction work at the home of Dr. Raymond Dokpesi at Agenebode in Edo State and Daar’s office in Asokoro, Abuja.”

    Under cross-examination by lead defence lawyer, Kanu Agabi (SAN), the witness accepted the defence’s suggestion that funds in ONSA’s account with the Central Bank of Nigeria (CBN) were not proceeds of crime.

    He also said, “There is no reason for the defendants to have received any funds from the National Security Adviser.

    “The payment was made without any process being followed and without any contract executed.”

    Aliyu agreed with the defence that the defendants had “no control” over the procedure of payments by the NSA office.

    Read Also:Dokpesi to Lai Mohammed: Retract calling me looter or face N5b lawsuit

    At the conclusion of Aliyu’s evidence, after he was cross-examined by Agabi, Atolagbe told the court that the prosecution would close its case.

    Agabi said the defence intends to make a no-case submission, in which it would argue among others, that the prosecution has not led sufficient evidence linking it to the offences charged and warrant it being called to enter a defence.

    The defence will then pray the court to dismiss the charge and set the defendants free.

    The trial judge, Justice John Tsoho directed the defence to file its no-case submission within 21 days.

    Justice Tsoho equally asked the prosecution to file it’s response within 21 days from the day it is served with the defendants’ no-case submission.

    He also directed that the defendants would have 14 days to further reply from the day they are served with the prosecution’s response to the no-case submission.

    The judge adjourned to October 4 for parties to adopt their written submissions for and against the no-case submission.

    Dokpesi and Daar arraigned by the EFCC on charges of money laundering and procurement fraud to the tune of N2.1bn, which they allegedly received from ONSA between January and March 2015.

    They were accused of receiving the N2.1bn from ONSA, when Sambo Dasuki was in the National SecurityAdviser, as payment for a “purported contract on presidential media initiative”.

    The prosecution also alleged that Dokpesi and Daar received the N2.1bn from ONSA to prosecute the 2015 presidential media campaign for the People’s Democratic Party (PDP).

    It claimed that the payment was in breach of the provisions of the Public Procurement Act, Money Laundering (Prohibition) Act and the EFCC (Establishment) Act.

  • FG names Secondus, other treasury looters in PDP

    The Federal Government on Friday listed names of some members of Peoples Democratic Party ( PDP ) who it alleged  looted the national treasury when the party was in power.

    At a media briefing in Lagos, the Minister of Information and Culture, Alhaji Lai Mohammed said the PDP National Chairman, Uche Secondus took N200 million from the office of then National Security Adviser ( NSA ) on Feb. 19, 2015.

    The PDP had challenged the ruling party to name the looters under their watch if they actually know any.

    “They said they did not loot the treasury. Well, I am sure they know that the treasury was looted dry under their watch.

    “Yet they decided to grandstand. This shows the hollowness of their apology to Nigerians.

    “Let us just give them a teaser with this list: PDP chairman Uche Secondus on the 19th of Feb 2015, took N200 million only from the office of then NSA”

    The minister also alleged that PDP FInancial Secretary, Bolaji Anani on Oct 2014, took N600 million from the office of then NSA

    He said that the then party’s National Publicity Secretary, Olisah Metuh, is on trial for collecting N1.4 billion from the office of then NSA

    Mohammed said that Dr. Raymond Dokpesi, Chairman of DAAR Communications is also on trial, for allegedly taking N2.1 billion also from the office of the NSA

    “Dudafa Waripamo-Owei, former SSA to President Goodluck Jonathan, is also on trial over N830 million kept in accounts of four different companies,” he said.

    The minister said that a Federal High Court recently ruled that the former President Jonathan’s cousin Robert Azibaola had a case to answer for collecting 40 million dollars from the office of then NSA

    “This list is just a tip of the iceberg, and the PDP is aware of this.

    “We did not make these cases up. Many of these cases are in court and the records are available.

    “Some of the people on this list are seeking to plea bargain, and that is a fact,” he said

    Mohammed continued: “We insist that Nigeria was looted blind under the watch of the PDP, and that the starting point in tendering an apology is for them to return the loot.

    “It is like a robber admitting to stealing your car and apologizing, but then saying he will keep the car anyway. It doesn’t work that way.

    “The PDP is a hypocrite, and that reminds me of what English writer William Hazlitt said: ‘The only vice that cannot be forgiven is hypocrisy. The repentance of a hypocrite is itself hypocrisy’.

    “We will not stop talking about the massive looting by the PDP. They
    brought Nigeria to this sorry pass.

    “We are now looking around for loans to build infrastructure, and they ask us not to talk about it. we will talk about it”.

    Speaking on whether the position of government was prejudice since they had not been convicted by court, the minister said they were dared by the party  to give the names.

    He added that they had enough evidence to prove the allegations against them.

    NAN

  • EFCC’s witness to court: Oluwatosin Dokpesi got over N100m

    EFCC’s witness to court: Oluwatosin Dokpesi got over N100m

    The trial of businessman, Raymond Dokpesi resumed before a Federal High Court in Abuja Wednesday with a prosecution witness, Abubakar Madaki disclosing that Dokpesi’s  wife Oluwatosin received over N100m from the N2.1bn allegedly paid to DAAR Investment company by the office of National Security Adviser (NSA).

    Madaki, an investigator with the Economic and Financial Crimes Commission (EFCC), said investigation did not reveal the existence of any contract between Dokpesi’s company and the office of the NSA to have warranted the payment of N2.1b to the defendants.

    Dokpesi and DAAR Investment are being tried before Justice John Tsoho of the Federal High Court, Abuja by the EFCC for allegedly receiving N2.1b from the office of the NSA for an unknown contract.

    Madaki, who was led in evidence Oluwaleke Atolagbe, Wednesday, the witness Abubakar  Madaki  told the trial court that “there was no contract and no reason for the payments.”

    The witness gave details of how Dokpesi allegedly disposed the money paid by the office of the NSA.

    He said that the EFCC traced part of the fund from DAAR Investment’s account to the Presidential Debate Group.

    The witness said Dokpesi, who allegedly transferred the fund, claimed it was his contribution to the Presidential Debate Group.

    The payment was captured in a letter by Abuja Investment Company, which the court later admitted in evidence.

    The witness also named Alhaji Abubakar Jijiwa as one of the beneficiaries of the fund. He said Jijiwa confirmed, in his statement to investigators, that the N100m was given to him from the fund, as a soft loan, although the 1st defendant allegedly claimed that Jijiwa was paid as a resource person.

    Madaki said one Timawus Martins was paid N20m, as a resource person, while Matthias, a staff of AIT Yola office received N8.1million as payment for political jingles .

    The witness also told the court that Mathias, who was in charge of Yola office of AIT, received N4.5m as compensation for his vehicle that had an accident.

    He added: “The sum of N4.3m and N2.3m was used for extension of electricity installation for AIT office in Yola and another N1.3m for borehole in AIT office in Yola.”

    Madaki also named Mrs Oluwatosin Dokpesi, who he said got over N100m and  “other various sums.”

    He also told the court that two personal assistants to the 1st defendant (Dokpesi),  Gabriel Agoyin and Godfrey  Usifoh, received N40m and N30m.

    He said the EFCC obtained responses from  Silverbird, Punch newspaper,  Guardian newspapers, Kiss Fm, Voice of Nigeria (VON), Capital FM, Leadership newspapers, Abuja Broadcasting, Media Trust and Nigerian Pilot Newspapers.

    The court later admitted the letters from media houses as exhibits.

    Madaki said when the EFCC wrote the Bureau of Public Procurement (BPP) to ascertain if there was a contract for which the money was paid; BPP responded that there was no contract and no reason for the payments.

    The witness, who concluded his evidence-in-chief Wednesday will be cross-examined by the defence when proceedings resumes in the case on March 9.

     

  • 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

  • PDP chair: Edo delegates dump Dokpesi for Secondus

    PDP chair: Edo delegates dump Dokpesi for Secondus

    Edo State delegates for the national convention of the Peoples Democratic Party (PDP) have been asked to vote for Prince Uche Secondus and not Chief Raymond Dokpesi as National Chairman of the party.

    However, some delegates from Edo North Senatorial district have reportedly kicked against the decision since Dokpesi hails from the state.

    But the delegates are yet to arrive at a consensus at the time of filing this report.

    It was learnt that the state leadership of the party led by Chief Dan Orbih was toeing the line of the South South region to support Secondus.

    At a meeting with the party delegates in Benin City, Dokpesi informed them that he got the blessing of party leaders in the state before contesting for the position of the national chairman of the party.

     The aspirant said he didn’t reach out to some members of the party in the state because he assumed that having secured the blessing of leaders of party, he has the blessing and endorsement of all party faithful in the state.

    Dokpesi said: “As well to the consultation, we consulted with Chief Anenih and our governorship candidate, Pastor Osagie Ize-Iyamu. I consulted the state chairman here also. I also consulted Chief Tomi Ikimi, Alhaji Isa Braima, Chief Ozeto and all of the elders.

    “And because it is a delegate election, I took off time to even notify my senatorial chairmen. I requested them to please also get involved. So, I mentioned this to them and I had their blessings to go ahead. So for all those who said I did not knock at their doorsteps to inform them, accept my unreserved apology, it was not just possible to go round.”

  • I represent new face of PDP – Dokpesi

    I represent new face of PDP – Dokpesi

    Founder of Daar Communications, Chief Raymond Dokpesi, said he represented the new face of Peoples Democratic Party ( PDP ) where political aspirations of members would be attained.

    Dokpesi, a national chairmanship aspirant of the party, stated this at a news conference in Owerri, on Wednesday as he rounded off his nationwide campaign ahead of Saturday’s national convention of the party.

    He said that his leadership would mark a departure from the culture of imposition and impunity of the past, and urged Imo delegates to the convention to vote for a new beginning in the party.

    “Vote for a new beginning and a new PDP that will ensure and give each member of PDP a level-playing ground to attain their dreams.

    “Vote for leadership that will be respected by all and sundry, leadership of the party that will recapture power in 2019.

    “That is the kind of leadership Chief Raymond Dokpesi is offering,” he said.

    Read also: Dokpesi calls for unity among PDP members

    Dokpesi said that the party was on the rise again after its defeat in the 2015 general elections, adding that to sustain the achievement, it needed a leader who had what was required to properly project it.

    In his response, Chairman of PDP in Imo, Mr Charles Ezekwem, said that the state was yet to decide on candidates to vote for at the convention.

    According to Ezekwem, a collective decision on that will be made before the convention.

    In his speech, Mr Chuma Nnaji, a running mate in the governorship election in the state in 2015, said that the delegates from Imo would vote for honest aspirants who understood the challenges of the state.

    Nnaji described Dokpesi as one of such aspirants.

    NAN

  • PDP chair: Lagos chapter endorses Bode George

    PDP chair: Lagos chapter endorses Bode George

    The Lagos State Chapter of the PDP on Sunday night endorsed Chief Olabode George as their preferred candidate for the National Chairmanship position during the forthcoming  December 9 National Convention of the party.

    Dr Moshood Salvador, the State Chairman of PDP, gave the certification at a feedback meeting between George and members of the party, held at the party’s secretariat in GRA, Ikeja.

    Reports say that George had been on campaign in the Southern states of the country to seek support for votes ahead of the National Convention.

    There are about eight aspirants jostling for the National chairmanship seat of the party from the south.

    They include: the former Governor of Ogun State, Chief Gbenga Daniel, former Minister of Education, Prof. Tunde Adeniran.

    Others are: the former Minister of Youth Development, Prof. Taoheed Adedoja and former Lagos State PDP governorship candidate, Mr Jimi Agbaje, Prince Uche Secondus, a former acting National Chairman of PDP, and Chief Raymond Dokpesi.

    Read also: Bode George consistent, dogged, says Ayade

    Salvador said: “ On behalf of Lagos PDP, we must vote for Chief Bode George come December 9;  the South west is the rightful region to have the chairman of our great party.

    “In the last dispensation, Ekiti produced the Vice- Chairman while Osun and Oyo states took the highest office. It is only Lagos that is left and what we want is the chairman.

    “The South-east and the South-south have produced a chairman before that is why it is our turn to have the chairman of PDP,’’ he said.

    Earlier, George assured members that if given the opportunity to serve, he would re-establish the culture and tradition put in place by the founding fathers of  the PDP.

    “If I am given the opportunity, I will not be new to the management of this party because the party’s constitution is not going to be new to me; I know its provisions as I know the back of my hand.

    “We grew up with the party and the founding fathers handed over the culture of the party to us and that is what we would re-establish.

    “Just check out, from the end of our convention to the national election is a very short time, it is not a time where you can do experimentation, it is not a time you can bring a green horn to be the chairman of the party.

    “If you are desirous that you want to win that election, on that day before you cast your votes search your consciences and think very carefully.

    “Secondly, it is not a matter of life and death, if I don’t believe that I have anything to offer, I will not be here.

    “I will not compromise on things that are not right and are not in the constitution.

    “ I will do things the way they should be done and everybody will be happy. That was how our founding fathers were moving the party forward ,’’ George said.

    NAN