Chams names ex-Wema Bank CEO Oloketuyi as board chairman

Chams Holding Company Plc has appointed former Wema Bank chief executive Segun Oloketuyi as chairman of its board of directors, marking the end of founder Demola Aladekomo’s four-decade leadership of the technology company.

The appointment, which takes effect on July 9, follows board approval in line with the company’s governance processes and regulatory requirements, according to a notice filed with the Nigerian Exchange Limited (NGX) and signed by company secretary Oluwaseun Osuji and group managing director/chief executive officer Mayowa Olaniyan.

The leadership transition comes as Chams positions itself for a new phase of growth after strengthening its capital base last year to expand investments in digital infrastructure, identity verification technologies, and other technology businesses.

Read also: Chams declares N270m in final dividend payout to shareholders

Oloketuyi succeeds Aladekomo, who founded Chams and led the company for 40 years, serving first as group managing director for three decades before moving to the board, where he spent another 10 years providing strategic oversight, including as chairman.

During his tenure, Chams grew from a single technology company into a diversified technology group with operations spanning identity management, payment infrastructure, card manufacturing, pension remittance services, and digital innovation. The company also established subsidiaries, including ChamsAccess, CardCentre Nigeria Limited, ChamsSwitch, and ChamsMobile.

One of the company’s landmark achievements under Aladekomo’s leadership was its role in implementing Nigeria’s Bank Verification Number (BVN) system, now a key component of the country’s banking and financial inclusion infrastructure.
The board thanked the outgoing chairman for what it described as his visionary leadership and contributions to the company’s growth and transformation over the past four decades.

Oloketuyi, who previously served as a non-executive director on the Chams board, brings decades of banking and corporate governance experience to the role.
He was managing director and chief executive officer of Wema Bank, where he led the lender through a significant transformation. His career also includes senior leadership positions at Skye Bank Plc, Polaris Bank, formerly Prudent Bank Plc, and Bond Bank Limited, as well as an earlier stint in auditing with Deloitte & Touche.

Read also: Chams, CWG, eTranzact profit from shift to infrastructure services

A fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Oloketuyi currently chairs Japaul Gold and Ventures Plc and Greenwich Merchant Bank. He previously served as chairman of Great Nigeria Insurance Plc.

The appointment comes months after Chams raised about N3.7 billion through a private placement, listing an additional 1.96 billion ordinary shares on the Nigerian Exchange in November 2025. The exercise increased the company’s issued shares from 4.7 billion to 6.65 billion and strengthened its balance sheet to support future expansion across its businesses.