Chams Holding Company Plc has announced the appointment of former Wema Bank Managing Director and Chief Executive Officer, Segun Oloketuyi, as the new Chairman of its Board of Directors following the retirement of the company’s founder, Sir Demola Aladekomo.
The appointment, which takes effect on July 9, 2026, was approved by the company’s Board in accordance with its corporate governance procedures and regulatory requirements.
Oloketuyi succeeds Aladekomo, who stepped down after leading the company for four decades. During that period, he served as Group Managing Director for 30 years before moving to the Board, where he continued to provide strategic leadership, including serving as Chairman.
The Board commended Aladekomo for his significant contributions to the company’s growth, describing his tenure as one defined by innovation, commitment and visionary leadership.
Under his leadership, Chams expanded from a single technology company into a diversified technology group with operations spanning identity management, payment solutions, card manufacturing, pension remittance services and digital technology. The company also played a key role in the implementation of Nigeria’s Bank Verification Number (BVN) system, which has become an important part of the country’s financial ecosystem.
Before his appointment as Chairman, Oloketuyi served as a Non-Executive Director on the Board of Chams Holding, contributing to the company’s governance and strategic planning.
He brings decades of experience in banking, corporate finance, risk management and corporate governance, having previously led Wema Bank through a period of transformation and growth. His professional career also includes senior leadership positions in other financial institutions, as well as experience in auditing and enterprise risk management.
Oloketuyi is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and has served on the boards of several financial institutions and corporate organisations.
The leadership transition follows the company’s successful private placement completed in late 2025, which strengthened its capital base with the listing of additional ordinary shares on the Nigerian Exchange. Chams stated that the funds raised would support investments in digital infrastructure, identity verification technologies and the expansion of its business operations as it enters a new phase under its incoming chairman.
