Demola Aladekomo is stepping down from Chams Holding Company Plc's board. His retirement takes effect on July 9, 2026.
The tech entrepreneur founded the firm four decades ago with an audacious plan. He wanted to build world-class homegrown technology solutions for Nigeria and the broader African continent.
Aladekomo spent three decades as Group Managing Director before moving to the board. He then spent another ten years there, including time as Chairman.
Under his watch, Chams transformed dramatically. What started as a single venture became a sprawling technology group with diverse interests.
Identity management now sits alongside payment infrastructure in the company's portfolio. Card manufacturing, pension remittance services, and digital innovation round out the business mix.
Chams played a crucial role in rolling out Nigeria's Bank Verification Number system. The BVN has since become essential to the country's banking architecture and financial inclusion efforts.
Key subsidiaries including ChamsAccess, CardCentre Nigeria Limited, ChamsSwitch, and ChamsMobile drove much of this expansion. These arms helped the group establish itself as a major player in the sector.
After stepping back from day-to-day operations, Aladekomo remained active in steering the company's direction. He oversaw a period marked by transformation and expansion as Chams solidified its presence on the Nigerian Exchange.
The board has expressed gratitude for his contributions. Directors credited his pioneering vision and steadfast dedication to the firm's achievements.
Segun Oloketuyi will take over as Board Chairman when Aladekomo exits. The move represents a planned transition rather than an abrupt change in leadership.
Mayowa Olaniyan, serving as Group Managing Director and CEO, praised the departing founder. "Sir Demola's vision, courage, and unwavering belief in indigenous technology laid the foundation for everything Chams has become today," Olaniyan told reporters.
He added that Aladekomo led with distinction for thirty years. Over the next decade as a board member and chairman, the founder continued offering wisdom and strategic insight.
Olaniyan noted the entire Chams team feels honored by his service. "We are committed to building on that legacy," he said, "as we deepen our contribution to Africa's digital transformation and infrastructure development."
