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E-Business

Chams Consolidates Business, Focuses on Improving Shareholder Value

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(L-r): Sir Demola Aladekomo, outgoing group managing director, Very Reverend Ayo Richards, chairman of the Board of Directors, Olufemi Williams, newly appointed group managing director, and Luqman Balogun, newly appointed, deputy group managing director, all of Chams Plc at its 31st Annual General Meeting held in Lagos recently.
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Chams Plc, a leading identity management firm, has announced the successful restructuring and consolidation of its operations to focus on the business of identity management.

 

Very Reverend Ayo Richards, chairman of Chams Plc, who disclosed this at the company’s 31st Annual General Meeting (AGM) in Lagos recently, said Chams and its subsidiaries, including ChamsAccess and CardCentre, have further entrenched their relationships with clients as well as local and international trade partners to ensure a sustained growth trajectory and market dominance in identity management.

 

Richards said “In spite of the tough market conditions in the 2014 financial year, we recorded improved performances. Indeed, the last 12 months have been a period of consolidation for us as a Group. We entrenched our business relationships with our clients and restructured our operations by laying more emphasis on our core business.”

 

Chams Group posted impressive financial results across key parameters as reflected in its revenue growth of 20 per cent from N3.44bn in 2013 to N4.12bn in the 2014 financial year. Operating profit rose by 22.5 per cent to N392.30m compared with N320.10m in 2013.

 

Profit after tax rose strongly by over 48.7 per cent from N188m in 2013 to N280m in 2014.

 

Shareholders’ fund also improved by 26.5% per cent from N4.7bn at full year 2013 to N5.9bn in the 2014 financial year.

 

Explaining the strategic thrust of the business in 2014, Richards said, “To consolidate the achievements we have recorded in the last three years and foster our aspiration of dominating the identity management space in Africa, we partnered with a renowned consulting firm to forge a corporate strategy that would serve as a roadmap for the medium term. This has resulted in streamlined organizational structures and processes, offering of higher-margin, value-added services, and the development of innovative products and services to meet market needs. And we are indeed poised to release innovative products that will have major impact in the Identity Management space and make life more secure and convenient for our customers.”

 

At the AGM, shareholders approved payment of dividend of 2 kobo per ordinary share of 50 kobo held translating to N93.921m as proposed by the company.

 

Reverend Richards thanked shareholders for their understanding, adding that the board and management of Chams Plc are working assiduously to improve dividend payout. 

 

On his part, Demola Aladekomo, outgoing Group Managing and Chief Executive Officer, Chams Plc, said “Our ability to deliver growth across major financial indicators further attests to our strong market positioning and industry leadership. In the last financial year, we achieved some major milestones on our existing projects and also fostered numerous new business partnerships. This year, our objectives are based on a ‘PMR’ model, citing focus on people, increase in market share and improving return to shareholders.

 

The 31st AGM also heralded a major leadership change in the company with Mr. Demola Aladekomo, founding group managing pirector, proceeding on terminal leave ahead of his retirement in September.

 

Aladekomo handed over to Olufemi Williams who takes over as the Group Managing Director and Chief Executive Officer in alignment with the board of directors’ ratified succession planning which emphasizes promoting capable internal candidates to leadership positions.

 

Until the announcement of Aladekomo’s retirement, Williams was the Deputy Managing Director, and a Chams Plc veteran having joined the company in 1990 as a Computer Engineer.

 

He rose to the position of General Manager in January 2001, and held same until he joined SuperCard Limited as Managing Director in March 2004. Olufemi was appointed Deputy Managing Director, Chams Plc in January 2012 after the merger of SuperCard Limited with Chams Plc.

 

Luqman Balogun, managing director of CardCentre Nigeria Limited, a subsidiary of Chams Plc, has been named the Deputy Managing Director.

 

Prior to joining CardCentre in June 2013 as MD/CEO, Balogun spent 22 years in the banking sector in a career spanning retail and commercial banking, banking operations and Information Technology, credit and relationship management, cards and electronic banking, and project management.

 

 

 


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E-Business

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

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Nigerian government, through the Office of the National Security Adviser (ONSA) and the National Information Technology Development Agency (NITDA), has announced a strategic collaboration to strengthen cybersecurity and clean up the nation’s cyberspace.

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

Recognizing that cybercrime knows no borders, Nigeria also reaffirmed its commitment to fostering stronger global partnerships within the cybersecurity ecosystem.

This announcement was made during a press conference before the inaugural National Cybersecurity Conference, which is scheduled to take place in Abuja from July 9th to 11th, 2025.

Sa’ad Abubakar, national cybersecurity coordinator from the Office of National Security Advisor, said fighting cybercrime must take the whole of society and the whole of the government approach.

According to him, “Apart from the deterrent approach whereby government agencies such as Economic and Financial Crimes Commission (EFCC) arrest individuals, take them to court and prosecute them, the youth can be nurtured into better citizens who can showcase their capacity in better ways and be useful to the country.”

Similarly, Kashifu Abdullahi, director-general, NITDA,  also stressed the need for collaborative efforts in fighting cybercrimes.

According to him “Then, in addition to that, we also want to build a stronger global collaboration with the global cyber security ecosystem, because when you look at cybercrime in general, it doesn’t respect the borders.

“Someone can commit a crime from Ghana using a Nigerian ID in the US. So you can look at him physically in a different jurisdiction, pretending to be in another jurisdiction, committing the crime in another jurisdiction.

“So without that kind of synergy and working together, it will be difficult to address these challenges. The third one is challenge. The third one is getting an alternative to cybercrime for our kids in Nigeria. We have this as a major challenge.”

Inuwa further highlighted the upcoming conference’s importance, noting that it would tackle key issues through workshops, discussions on emerging threats, cross-border cybersecurity collaboration strategies, and training programmes.

He also announced that the National Cybersecurity Conference 2025 would feature the Cybersecurity Excellence Awards, recognising top contributions in the field.

The DG extended an invitation to global partners to collaborate with Nigeria in building a safer digital future.

The press conference was attended by notable figures, including Ahmad Sa’ad Abubakar, National Coordinator of, the National Cybersecurity Coordination Centre (NCCC); Hanniel Jafar, Representative of the President, of Cyber Security Experts Association of Nigeria (CSEAN); Ankit Shukla, Managing Director, QNA Marketing Management LLC and members of the press and other stakeholders.


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E-Business

AXIAN Telecom Invests in Jumia Post-MTN Era

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XIAN Telecom has acquired an 8% stake in pan-African e-commerce company Jumia Technologies, citing the platform’s fintech and logistics strengths as key drivers of its backing.

This marks the first major telecom investment in Jumia since MTN Group’s exit in 2020.

AXIAN, a fast-growing telecom and digital services provider with operations across Africa, disclosed the purchase in a Schedule 13D filing with the U.S. Securities and Exchange Commission.

While the financial terms were not disclosed, AXIAN Telecom CEO, Hassan Jaber, described the move as a strategic alignment with Jumia’s growth trajectory and digital ecosystem.

“Jumia’s achievements in digital retail and fintech, particularly through JumiaPay and its logistics network, make it a very attractive investment for us. We believe in Jumia’s potential to promote financial and economic inclusion, which aligns with our core values,” said Jaber.

Once dubbed the “Amazon of Africa,” Jumia became the first African-founded tech company to list on the New York Stock Exchange in 2019.

But years of underperformance, leadership changes, and competitive pressures dented investor confidence.

In October 2020, South Africa’s MTN Group offloaded its 18.9% stake for $138 million, well below the $698 million value it once held post-IPO.

Since then, Jumia has undergone a significant transformation. Under CEO Francis Dufay, appointed in 2022, the company exited low-performing markets like South Africa and Tunisia, cut costs, and doubled down on core markets – Nigeria, Kenya, Egypt, and Morocco.

The firm is now focused on high-growth verticals, including everyday essentials and digital financial services.

Jumia’s regional CEO for East Africa, Vinod Goel, recently revealed plans to scale up international brand offerings and open its logistics network to third-party businesses.

Jaber underscored that AXIAN Telecom’s investment signals renewed confidence in Jumia’s long-term potential.

The telecom firm’s CEO said the company views Jumia as a key player in advancing Africa’s digital economy, aligning with AXIAN’s mission through its fintech and digital infrastructure brands such as Yas and Mixx by Yas.

 


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NIMC Plans to Register 95 Percent Nigerians by December

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Abisoye Coker-Odusote, director general, National Identity management commission (NIMC) has said that the commission is set to register 95 percent of Nigerians into the National Identity Database before December 2025.

NIMC Plans to Register 95 Percent Nigerians by December

Abisoye Coker-Odusote,, DG, NIMC

She made this statement at a press briefing to highlight the commissions goal aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly on digital governance and inclusive development.

The mass enrollment drive will be powered by a combination of improved infrastructure, expanded registration centres, and robust public sensitization campaigns.

As of May 2025, NIMC reports over 120 million Nigerians have been enrolled, and about 100 million more would be captured by December.


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