Chams Holding appoints former Wema Bank CEO Segun Oloketuyi as new Chairman
Chams Holding Company Plc has appointed former Wema Bank CEO Segun Oloketuyi as Chairman of its Board, effective July 9, 2026, following the retirement of founder Sir Demola Aladekomo after four decades of leadership. The appointment, approved by the Board and disclosed in a notice to the Nigerian Exchange and the public, aligns with the company’s governance framework and regulatory requirements.
Oloketuyi brings extensive banking experience, having led Wema Bank through a transformation phase and held senior roles at Skye Bank, Polaris Bank, and Bond Bank. He is a Fellow of the Institute of Chartered Accountants of Nigeria and a member of the Institute of Directors, and currently chairs Japaul Gold and Ventures Plc and Greenwich Merchant Bank.
Aladekomo founded Chams and grew it from a single technology business into a diversified group with interests in identity management, payment infrastructure, card manufacturing, pension remittance, and digital innovation. Under his leadership, the company played a key role in implementing Nigeria’s Bank Verification Number system and launched subsidiaries such as ChamsAccess, CardCentre Nigeria Limited, ChamsSwitch, and ChamsMobile.
The leadership shift comes less than a year after Chams raised about N3.7 billion through a private placement in November 2025, issuing 1.96 billion shares at N1.87 each. The capital increase boosted issued shares to 6.65 billion and market capitalisation to roughly N21 billion, earmarked for digital infrastructure, identity verification tech, and subsidiary expansion under the new board.