Chams HoldCo Plc, a leading provider of identity management and transactional systems in Nigeria, wishes to address recent inaccurate statements regarding its ownership structure and business practices. Unfortunately, Prince Diran Odeyemi made these misrepresentations during an interview he granted a YouTube channel, which was widely circulated.
We wish to clarify the following points:
1. Ownership:Â Chams HoldCo Plc is not owned by President Bola Ahmed Tinubu. Founded by Sir Demola Aladekomo in 1985, our company is publicly listed (Year 2007) on the Nigerian Stock Exchange with a diverse shareholder base
2. Business Integrity: We vehemently reject allegations of financial impropriety in Osun State or elsewhere. Our operations are conducted with utmost transparency and adherence to stringent corporate governance standards. We audit all our government operations using the best-in-class auditors, PWC, in addition to our internal auditors. Likewise, the government carried out independent and routine audits through PWC, CompuKonsult, and the office of the Auditor General. Â
3. Osun State Partnership: Since June 28, 2011, Chams has provided three successive administrations in Osun State with staff verification, identity management, payroll, pension, and human resource management solutions. Following our transition to a holding company structure with new business models for our subsidiary companies: ChamsSwitch Limited (UnionPay International Cards, Payment Gateway & Switching), CardCentre Limited (Bank Debit Cards & SIMM Card production for major Telcos), ChamsAccess Limited (Banking Operation Infrastructure) and ChamsMobile Limited (Mobile Banking with our Kegow brand) government support services no longer align with our focus and drive. In March 2024, we notified the Osun State government of our intention to exit the project. We continue to provide support pending a mutually agreed transition plan. We express our appreciation to Governor Ademola Adeleke for recognizing our professional capabilities and retaining us on the project thus far.
4. Track Record: Chams HoldCo Plc has a proven history of implementing secure identity management and payment solutions for various national and state governments. Chams pioneered the Biometrics driven Payroll System in Osun state to establish a purified Human Resource and Payroll System database. Our pioneering solutions have significantly enhanced public service efficiency and transparency and have resolved major issues confronting many states in Nigeria
5. National Contributions: As an industry leader, Chams has played pioneering and pivotal roles in national identity projects (issued the first NIMC One Million NINs for Nigerians), winning a Guinness World record along the line with our groundbreaking ChamsCities. We implemented and deployed the Bank Verification Number (BVN) system with CBN/NIBSS and the entire Nigerian banking system. We also implemented for INEC the purified National Voter Database and, issued 53.4m voter’s cards and was a major partner to NCC SIM Registration projects. The FRSC Driver’s license, National Health Insurance are part of other critical initiatives we have implemented for our nation.
Chams HoldCo Plc urges the public to rely on official company communications and credible media sources for accurate information about our operations. For updates, please refer to our official social media channels and authorized press releases.
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Signed: Management
July 31, 2024
