‘Estate of Dokpesi under probate’ – family cautions against unauthorised transactions

Some members of the Dokpesi family have issued a stern warning to the public over circulating reports that some individuals are claiming authority to sell assets belonging to the late Raymond Dokpesi, founder of DAAR Communications.

The announcement comes amid reports of governance tensions within DAAR Communications PLC, the parent company of AIT and Raypower.

There were also reports that some buildings and assets, including lands and local stations such as the Asokoro station on Kpaduma Hill, have been sold or shut down, causing distress among staff.

In a statement on Wednesday, the family members said the entire estate of the late media mogul has been under probate since his passing on May 29, 2023.

Probate is the formal process through which a court validates the deceased person’s will, appoints an executor or administrator, and oversees the proper settlement of debts, taxes, and distribution of the remaining assets to beneficiaries.

When someone’s estate is “under probate”, it means that after their death, their assets and property are being legally administered and distributed according to their will or, if there is no will, according to the laws of intestacy.

The family said assets in probate included his stakes in DAAR Investment & Holding Company Ltd, DAAR Communications PLC, and other corporate and private assets.

“With effect from May 29, 2023, all assets of the estate are frozen for sale, transfer, pledge, or loan until the lawful completion of probate,” the statement reads.

The family cautioned investors, institutions, and the public against engaging in any transactions involving the estate’s assets without proper legal authority.

“We have received troubling reports of people pretending to have authority and offering estate assets for sale. We are compelled to announce this publicly to protect unsuspecting buyers and to calm investors and the general public,” the statement reads.

“No such transactions are valid without the authority of the probate court.”

The family issued a public notice as a caveat to prevent unlawful dealings with the estate until probate is complete.

The family added that the legacy of late Dokpesi remains intact and is not for sale.

“The Dokpesi Family wants Nigerians and the international community to know that the legacy of High Chief Raymond Dokpesi is not up for grabs,” the statement reads.

“Investigations also revealed staff and employees are saddened by the development.”