Companies survive through sound governance, strong values, effective succession – Aladekomo

As he bows out after four decades at the helm, Ademola Aladekomo, founder, Chams HoldCo Plc weighs in on the issues shaping Nigeria’s digital future, opportunities, risks for investors and operators in the technology industry write Iheanyi Nwachukwu. Excerpts

As you conclude a four-decade leadership journey at Chams, what reflections do you have on the company’s evolution and your decision to hand over now?

Gratitude best captures my feelings, though I still find it hard to believe that four decades have passed. We founded Chams in 1985 and mark our 40th anniversary in 2026. My summary of the journey is Ebenezer—the Lord has helped us this far. I feel no sadness because handing over at the right time was always part of the plan. Every founder hopes to leave behind an institution that can stand independently. I am thankful for God’s faithfulness, the dedicated people who built this company with me, and a country that allowed a young man with more conviction than capital to dream big.

What inspired you to establish Chams at a time when Nigeria’s technology industry was still in its infancy, and what national challenge were you determined to address?

I refused to believe that technology excellence had to come from abroad. After graduating from the University of Ife in 1982, I became convinced Nigerians could build and manage world-class technology systems. The challenge I wanted to solve was trust—how banks identify customers, governments identify citizens, and payments are completed securely. We started from a small room in our Surulere home. The room was small, but the vision was not.

Looking back over the last 40 years, what would you describe as the defining turning point in Chams’ growth, and how did the company navigate it?

Like every enduring business, we faced difficult economic cycles and disruptive technological changes. The biggest challenge came after listing on the Nigerian Exchange in 2008, when we transformed from one company into a holding group with independent subsidiaries. It would have been easier to centralise everything under one leader, but we chose the harder path of building an institution. We navigated that transition with prudence, faith and a long-term perspective.

What do you believe has distinguished Chams from many other indigenous technology companies, enabling it to remain relevant and resilient over four decades?

Our greatest strength has been building a company bigger than any individual. Creating a holding company with strong subsidiaries reflected that philosophy. Beyond structure, our longevity rests on three values: commitment to indigenous technology, unwavering integrity and continuous innovation. Companies survive through sound governance, strong values and effective succession.

How has Nigeria’s technology and digital ecosystem evolved since Chams was founded, and which developments have had the greatest impact on the industry?

The progress has been remarkable. Mobile telephony transformed Nigeria, broadband expanded opportunities, and the Bank Verification Number strengthened trust within the financial system. Perhaps the greatest achievement, however, is the confidence of today’s young Nigerians, who naturally believe they can build products for the global market. That mindset is a major national asset.

Chams has played an important role in Nigeria’s identity management and digital payments ecosystem. How do you assess the company’s contribution, and where do you see it fitting into the next phase of the digital economy?

Our contribution has largely been behind the scenes by building trusted identity and secure payment infrastructure on which today’s fintech ecosystem depends. Going forward, Chams will continue positioning itself as a provider of critical digital infrastructure. As a listed company, details will be communicated through formal disclosures, but our direction remains clear, we will continue building the foundations that enable others to innovate.

How would you assess today’s business and regulatory environment for technology and fintech companies in Nigeria, and what opportunities and risks do you see for investors and operators?

The regulatory environment has matured considerably. Banking, telecommunications and data protection regulators now appreciate technology’s strategic importance. Nigeria offers tremendous opportunities because of its young, digitally inclined population. The biggest challenge remains policy consistency. Investors value predictability, and when regulations remain stable, both capital and talent thrive.

What are the most pressing challenges confronting technology and fintech companies today in areas such as infrastructure, regulation, talent, funding and cybersecurity?

Infrastructure remains costly because unreliable electricity places Nigerian businesses at a disadvantage. Regulation should focus on stability and coordination rather than constant changes. Nigeria produces outstanding engineers but struggles to retain them. Long-term funding for digital infrastructure is scarce because many investors seek quick returns.

Cybersecurity has also become a national priority as digital trust underpins economic activity. These challenges are significant but entirely solvable.

What policy reforms or strategic interventions would you recommend to accelerate Nigeria’s digital economy and strengthen the competitiveness of indigenous technology companies?

Government should prioritise policy stability, support qualified indigenous technology firms, invest consistently in power and connectivity, protect critical national data within Nigeria, and strengthen skills development while creating conditions that retain talent. These are not favours to local companies—they are investments in Nigeria’s future competitiveness.

Throughout your leadership journey, what governance principles have guided your decisions, and how have they influenced your succession planning at Chams?

My guiding principle has always been that the institution must outlive the founder. A leader who cannot be replaced has not truly succeeded. That is why I have always insisted on strong succession planning. I retire with confidence because capable leadership is already in place.

Segun Oloketuyi will assume the role of Group Chairman, while Mayowa Olaniyan continues as Group Managing Director. Integrity, continuous learning, adaptability and developing people remain the qualities future leaders must uphold.

As you hand over the reins, what message would you like to leave for Chams employees across the group?

My first message is gratitude. Together we built this institution over four decades. Protect the Chams name because reputation takes years to build but moments to lose. Continue learning, pursue excellence in serving customers, and remember that the institution now belongs to you. I hand it over with confidence, not anxiety.

From 1985 to 2026, the Lord has been our Ebenezer, and He will continue to guide you.

Beyond your tenure, what legacy would you like to leave behind, and what is your long-term vision for Chams and Nigeria’s digital future?

I hope to be remembered for building an institution that no longer depends on its founder and for developing leaders who now excel in their own right. I also hope Chams has demonstrated that Nigerians can build world-class technology at home. My vision is for the company to continue providing the foundations of Nigeria’s digital economy while remaining true to its values. Strategy belongs to the next generation of leaders, but our purpose should never change: to create lasting value through disciplined execution.

If you were starting your entrepreneurial journey in today’s Nigeria, what would you do differently, and what advice would you offer young innovators seeking to build enduring technology companies?

I would bring in institutional capital and independent governance much earlier, and I would invest sooner in leadership succession.

However, I would not change the values that mattered most—faith, integrity and a long-term perspective. To young innovators, my advice is simple: solve real problems, protect your integrity, establish strong governance early, choose partners and investors carefully, and persevere. Enduring institutions are rarely built during moments of applause; they are built during the quiet years when conviction alone keeps you moving forward.