SmartCity, ChamsHoldco Synergizes with ICAN to Revolutionize Accounting Through Technology

Lagos, Nigeria – In a significant step towards advancing the accounting profession in Nigeria, SmartCity PLC, in collaboration with ChamsHoldco, recently hosted Chief Davidson Chizuoke Alaribe, FCA, the 60th President of the Institute of Chartered Accountants of Nigeria (ICAN), along with his leadership team, at their Ikoyi, Lagos office. This visit, characterized by insightful discussions and a shared vision, marked a pivotal moment for the organizations, underscoring the power of collaboration in driving industry-wide transformation.

Chief Alaribe, a distinguished leader in the accounting profession, was warmly welcomed by SmartCity’s Executive Chairman, Demola Aladekomo, alongside Mrs. Mayowa Olaniyan, Group Managing Director of ChamsHoldCo, and Mr. Gabriel Ukachukwu, Group Chief Financial Officer of SmartCity PLC. The meeting was centred around a critical objective: harnessing the potential of digital innovation to elevate the accounting profession in Nigeria.

The discussion focused on how technology can be leveraged to streamline accounting processes, enhance transparency, and equip professionals to meet the demands of a rapidly evolving digital economy. All parties expressed a strong commitment to this mission, recognizing that the future of accounting lies in embracing cutting-edge solutions that empower accountants to perform their roles with greater efficiency and effectiveness.

“At SmartCity, we believe that technology is the cornerstone of modern business,” said Demola Aladekomo, Executive Chairman of SmartCity PLC. “This partnership with ICAN is a testament to our commitment to leading the charge in digital transformation. By collaborating with ICAN, we aim to support the professional development of accountants in Nigeria, providing them with the tools and resources they need to thrive in an increasingly digital world.”

This strategic alliance marks the beginning of an exciting journey for SmartCity, ChamsHoldco, and ICAN. As we look to the future, we are proud to partner with ICAN in this endeavour and anticipate the positive changes this collaboration will bring to the accounting profession and beyond, ensuring that Nigerian accountants are not just keeping pace with global trends but are also at the forefront of innovation.

About SmartCity PLC

SmartCity is an investment, technology, and infrastructure development company dedicated to creating modern real estate and infrastructural projects that enable people to live, work, and relax in a technologically enabled environment, fostering pleasant and productive living.

Demola Advocates Collaborative Solutions for Identity Challenges in Nigeria’s Capital Market

In a compelling address during the 11th Annual Conference of the Institute of Capital Market Registrars (ICMR) in Lagos, Sir Demola Aladekomo, the Founder of Chams Plc and Executive Chairman of SmartCity Plc, called for a strategic alliance between capital market operators, the Nigeria Inter-Bank Settlement System (NIBSS), and the Nigeria Communication Commission (NCC) to effectively address the prevailing identity challenges within the Nigerian capital market.

Under the theme “Sustainability of the Nigerian Stock Market as a Catalyst for Economic Growth and Prosperity,” Aladekomo highlighted the critical need to prioritize identity management in the sector, emphasizing that solutions like the Bank Verification Number (BVN) and the National Identification Number (NIN) have already laid a foundation for addressing identity-related issues.

Aladekomo, a key player in successful national identity projects, including BVN, Chamscity Guinness World Record, NCC SIM registration, and INEC’s Voters Registration, stressed the importance of restoring public confidence in the capital market. He proposed comprehensive implementation of BVN and NIN, increased awareness among stakeholders, attracting investments from pension funds and foreign entities, and the introduction of innovative products and services by the Nigerian Exchange Group (NGX).

To tackle identity concerns in the capital market, Aladekomo urged regulators to prioritize swift and firm action, enhance cooperation with stakeholders, and actively manage Nigeria’s image against fraud and scams. He emphasized the significance of instilling confidence through measures that not only safeguard investments but also contribute to the market’s sustained growth.

Aladekomo’s call for collaborative efforts and his insightful recommendations underscore the imperative for collective action to enhance the integrity and resilience of Nigeria’s capital market.