Chams Holding Expands Into Digital Device Manufacturing With New Subsidiary

Chams Holding Company Plc has expanded into digital device manufacturing with the launch of ChamsCorp Plc, a new subsidiary that will also focus on data centre design, implementation, and operations, as well as artificial intelligence infrastructure.

The company stated this in a statement signed by its secretary, Oluwaseun Osuji on the Nigerian Exchange Limited.

According to the statement, Chams Holding hereby notifies NGX and the investing public that the Company has created a new subsidiary, ChamsCorp Plc. The Company is incorporated to conduct business in digital device manufacturing & infrastructure development, data centre design, implementation & operations, artificial intelligence infrastructure, and intelligent systems, among other things.

It stated that “by a resolution of the board of directors of the Company, the chairman of the board of ChamsCorp shall be Mohammed Yunusa, whilst the managing director/CEO shall be Dr Olufemi Oyenuga.

“Yunusa is a renowned finance expert, specializing in deal structuring, corporate and retail finance, business strategy, digital transformation, and Islamic Finance and Banking. He has almost a decade of experience in the financial services industry and has facilitated high-level financial transactions across various sectors, including transportation, agriculture, infrastructure, and renewable energy, in sub-Saharan and Northern Africa.

“He currently leads the Consumer and Digital Banking business for the Non-Interest Banking Retail business for Sterling Bank Nigeria and sits on the board of Chams Holding Company as a non-executive director. His appointment as Chairman, ChamsCorp, is effective 1st February 2026.”

The statement noted that “Oyenuga is an Expert Information Management Data Analytics Specialist responsible for delivering value-added BI Analytics solutions that POWER Global performance. Strategic, Operational, and management competencies with proven benchmarks in public, private and XLOB: healthcare, Telecom, ICT and manufacturing, plus working knowledge of financial services. Certified Intelligence Analytical Modeller. His appointment as MD/CEO, ChamsCorp, is effective 1st February 2026.”

It added that “Oyenuga ceases to be an executive director in Chams Holding Company and has been reclassified as a non-executive director, effective February 1st 2026.”

Chams Holding disclosed that the Company was still embarking on internal strategic positioning and would make further disclosures as and when there are material developments, in accordance with applicable NGX disclosure requirements.