Chams Holding Company Plc has announced the retirement of its founder, Sir (Dr.) Demola Aladekomo, from its Board of Directors, effective July 9, 2026, bringing to an end four decades of leadership at the technology and digital services company.
The company disclosed that Aladekomo’s retirement concludes a carefully planned leadership succession process, with Mr. Segun Oloketuyi set to assume the position of Chairman of the Board.
Aladekomo founded Chams with the vision of building indigenous technology solutions for Nigeria and Africa. He served as the company’s Group Managing Director for 30 years before joining the Board, where he spent another decade providing strategic direction, including serving as Chairman.
During his tenure, Chams grew from a single technology enterprise into a diversified group with interests in identity management, payment infrastructure, card manufacturing, pension remittance services and digital innovation.
The company said one of its landmark achievements under Aladekomo’s leadership was its role in implementing the Bank Verification Number (BVN), which has become a key component of Nigeria’s banking system and financial inclusion framework. It added that the expansion was driven through subsidiaries including ChamsAccess, CardCentre Nigeria Limited, ChamsSwitch and ChamsMobile.
Following his exit from executive management, Aladekomo continued to provide strategic oversight from the Board, guiding the company through a period of transformation while strengthening its position on the Nigerian Exchange (NGX) and advancing its long-term growth strategy.
The Board of Directors expressed appreciation for his contributions, describing his leadership as instrumental to the company’s growth and development over the past four decades.
Speaking on the transition, the Group Managing Director and Chief Executive Officer of Chams Holding Company Plc, Mayowa Olaniyan, said Aladekomo’s vision and commitment laid the foundation for the company’s achievements.
“Sir Demola’s vision, courage and unwavering belief in indigenous technology laid the foundation for everything Chams has become today. For thirty years, he led the Company with distinction, and for the last decade, he continued to guide us with wisdom and foresight as a Board member and Chairman.
“On behalf of the entire Chams family, I express our profound gratitude for his exceptional service and enduring legacy. We are honoured to build on that legacy as we deepen our contribution to Africa’s digital transformation and infrastructure development,” Olaniyan said.
The company said the appointment of Oloketuyi as Board Chairman is expected to ensure continuity in governance and strategic direction as Chams pursues its next phase of growth.
It added that despite the leadership transition, the company remains committed to the principles of innovation, excellence and nation-building that have defined its operations, expressing confidence that Aladekomo’s legacy would continue to inspire its mission of delivering technology-driven solutions across Africa.
