06 Dec

Wesleyan Heritage: A Panacea for Physical, Societal and Spiritual Growth

Introduction: Wesleyan Heritage and Our Shared Future

Wesley University, Ondo, stands as a beacon of academic excellence and spiritual development. As a Methodist institution, its foundation is deeply rooted in the teachings of John Wesley, whose legacy has shaped education, healthcare, and social reform globally.

The theme of this year’s convocation, “Wesleyan Heritage: A Panacea for Physical, Societal, and Spiritual Growth,” invites us to examine how Wesleyan principles address the challenges of our time. The 21st century presents a complex mix of opportunities and obstacles. Issues such as poverty, inequality, climate change, and spiritual disconnection demand solutions that are not only innovative but also grounded in ethical and moral values.

In the face of these challenges, we are called to apply Wesley’s teachings, focusing on faith in action, compassion, and justice. Wesley University’s partnership with Gallaudet University in Washington, D.C., is a remarkable example of Wesleyan values in a ction, creating a bridge across cultures to foster inclusivity, particularly for the Deaf and hard-of-hearing community.

As you read this convocation lecture, I encourage you to think about your role in advancing Wesleyan ideals. How can you apply faith in your personal life and use it for societal improvement? This is not just a theme for reflection—it is a roadmap for living a life of purpose.

To the graduates of Wesley University, this is a moment of celebration and responsibility. You are stepping into a world that needs leaders who are grounded in faith and committed to service. You are uniquely positioned to embody the values of personal and social holiness, creating impact wherever you go.

I took the liberty of attaching an appendix to this convocation speech. The appendix is an extract of Fifteen lessons from a book I am about to publish 3030; thirty (30) lessons from my thirty (30) years in Chams HoldCo PLC. As you go into the world, the lessons of Faith, Leadership, Resilience, and Purpose will guide and guard you in your journey.

May this lecture inspire you to live a life that glorifies God and uplifts humanity.

Part One: The Wesleyan Heritage

Historical Context

John Wesley, born in 1703 in Epworth, England, was one of 19 children. His upbringing in a devout Christian home laid the foundation for his life’s work. Wesley’s parents instilled in him a love for learning and a disciplined approach to faith.

As a student at Christ Church, Oxford, Wesley, along with his brother Charles, formed the “Holy Club,” a group dedicated to prayer, fasting, and acts of service. This methodical approach to faith earned them the nickname “Methodists.”

The turning point in Wesley’s spiritual journey came in 1738 at Aldersgate Street, where he experienced a profound sense of assurance in his faith. This moment, often referred to as his “heart- warming experience,” ignited a passion for evangelism and social reform that would define his ministry.

Core Principles of Wesleyan Heritage

Wesley’s teachings are anchored in two foundational principles:

1. Personal Holiness:

Wesley believed that a relationship with God transforms the heart and mind. He emphasized the importance of spiritual disciplines such as prayer, fasting, and Bible study.
- He encouraged believers to seek perfection in love, striving to reflect Christ in their daily lives.

2. Social Holiness:

Wesley taught that faith without works is dead. He believed that Christians must express their faith through acts of service, justice, and compassion.
- His ministry addressed societal issues such as poverty, illiteracy, and healthcare, demonstrating that faith must be lived out in tangible ways.

These principles are deeply interconnected. For Wesley, true faith required both a vertical relationship with God and a horizontal relationship with others.

The Seven Acts of Mercy

Wesley’s commitment to social holiness is perhaps best exemplified in the Seven Acts of Mercy, drawn from Matthew 25:31-40. These acts serve as a practical framework for living out one’s faith:

Feed the Hungry
Give Drink to the Thirsty
Clothe the Naked
Shelter the Homeless
Visit the Sick
Visit the Imprisoned
Bury the Dead

Each act is a response to the needs of humanity and a reflection of God’s love. Wesley organized Methodist communities to engage in these acts, establishing schools, hospitals, and outreach programs that addressed the physical and spiritual needs of society. Two institutions that grew out of and practice these ideals are Wesley University and Gallaudet University. Whereas one Wesley University has its origin of Wesleyan Heritage, as the name goes, the other Gallaudet is deeply committed to social holiness through diversity and inclusivity in nurturing and feeding the hard of hearing with education, giving knowledge and opportunities to those who would have been neglected by society and clothing through employment and empowerment those who would have faced economic hardship due to the larger society’s ignorance and biases.

Part Two: The Partnership between Wesley University and Gallaudet University Historical Background of the Partnership

The partnership between Wesley University and Gallaudet University is a living expression of Wesleyan ideals. Signed in 2018, the Memorandum of Understanding established a foundation for collaboration in Deaf education, driven by the values of inclusivity, accessibility, and empowerment.

Recognizing the limited educational opportunities for the Deaf and hard-of-hearing community in Nigeria, this partnership aimed to create a pathway to quality education for these students. Gallaudet University, renowned for its commitment to Deaf education, shared its expertise and resources with Wesley University, creating a DEAF Education Program that now celebrates its first and second cohort of graduates.

Achievements of the Partnership

On November 11, 2023, Wesley University marked a historic moment with the graduation of its first Deaf cohort. Six remarkable individuals completed their studies, specializing in fields such as Computer Science, Business Administration, and Accounting. Their achievement symbolizes hope and the power of inclusive education.

This success was only possible with the dedication of educators and administrators from both universities. Figures such as Dr. Bobbi Cordano, Mrs. Amanda Mueller, and Prof Kubby Rashid from Gallaudet, alongside Wesley University’s leaders, Prof Sunday Obeka, Prof Sunday Ukachukwu, Mrs Chioma Obasi, Sylvanus Ejeh Ogienyi, late Sir Peter Olorunfemi and others who have worked tirelessly to build a program that embodies the principles of social holiness.

Wesleyan Ideals in Deaf Education

The Wesleyan values of personal and social holiness resonate profoundly in Deaf education. Just as Wesley sought to include the marginalized, this program empowers Deaf students to pursue their dreams without leaving Nigeria. By offering accessible education within their community, we honor Wesley’s vision of a just and inclusive society.

Future Vision for the Partnership

We envision expanding this partnership to include new programs, research initiatives, and student exchanges. Imagine a future where Deaf and hearing students from both universities collaborate on projects, exchange ideas, and create lasting friendships. Together, we can build a model of Deaf education that inspires institutions around the world.

Part Three: My Story – A Journey of Faith and Service

Personal Connection to Wesleyan Values

Throughout my life, Wesleyan values have guided me through challenges and triumphs. Growing up in a community that valued education and spiritual growth, I learned early on that faith and action are inseparable. Wesley’s teachings on personal and social holiness became a compass for navigating personal and professional decisions. It would take a series of speeches to discuss some of the examples

Personal Financial Disaster of the 2009 Stock Crash and
The Corporate Financial Disaster of the 2012 National ID was a double calamity that could have sunk the strongest in faith but for the Grace of God. Through Faith and Action, Working and Praying, we survived.

Entrepreneurial Path and Community Impact

A commitment to service has shaped my career in entrepreneurship. Inspired by Wesley’s call to social holiness, I sought to create ventures that offer employment, uphold fair labor practices, and reinvest in community development.

In challenging moments—financial struggles, market shifts—I turned to Wesley’s principles of perseverance and faith. Through prayer and spiritual discipline, I found resilience and purpose. Wesleyan principles taught me that faith can overcome any obstacle, and this belief has been my foundation.

Some of the results of applying these principles through God’s blessings include:

The Bank Verification Number (BVN) stabilizing miracle
The strengthening I Samuel 30:8 mysterious verse
The Arbitration judgement of justice June 2024 and
Exiting AMCON indebtedness in September 2024 FAITH can overcome any obstacles

Giving Back Through Service

Wesley’s Seven Acts of Mercy have inspired me to view service as an extension of faith. Whether supporting local education initiatives, community programs, or building cemeteries, I strive to reflect God’s love by helping others and even the dead. This commitment to service has enriched my life and shown me the transformative power of compassion.

Part Four: A Call to Action

Embracing Wesleyan Ideals in Modern Times

As we reflect on John Wesley’s teachings, let us ask how we can embody these principles in our lives. Today’s world needs leaders rooted in faith, committed to justice, and dedicated to uplifting others.

1. Live a Life of Personal Holiness

Engage in daily spiritual practices.
- Seek personal growth and strive for “perfection in love.”
- Reflect on your actions to ensure they align with your values.

2. Practice Social Holiness

Identify ways to serve your community.
- Engage in Wesley’s Acts of Mercy, from feeding the hungry to caring for the sick.
- Promote justice, fairness, and inclusivity.

3. Be a Leader of Integrity and Compassion

Lead by example and prioritize impact over personal gain.
- Mentor others and build supportive communities.
- Champion compassion and understanding in every aspect of your life.

4. Pursue a Vision of a Just and Compassionate Society

Support ethical practices and advocate for sustainable solutions.
- Stand firm in Wesleyan values as you contribute to a better world.

Conclusion: A Commitment to Purpose

Graduates of Wesley University, you are the torchbearers of Wesleyan heritage. Carry forward the ideals of personal and social holiness. Let your lives reflect the power of faith in action. Step boldly into a world that needs your leadership, compassion, and resolve. “Do all the good you can, by all the means you can, in all the ways you can, in all the places you can, at all the times you can, to all the people you can, as long as ever you can.”

May you find fulfilment in a life dedicated to glorifying God, serving others, and uplifting humanity. Congratulations to you our graduating set, your family and friends

Congratulations to us all at Wesley University for another major leap God bless you all. Amen

As you step into the next chapter of your lives, you carry with you the knowledge and skills acquired through your education and the responsibility to embody the values that Wesley University, rooted in the rich Wesleyan tradition, has instilled in you. These values—faith, service, compassion, and perseverance—are timeless principles that guide us in living a life of purpose and making meaningful contributions to society.

Today, as you hold this collection of 15 lessons from my upcoming book, 3030: Thirty Lessons from my Thirty Years in Chams HoldCo PLC of Faith, Leadership, Resilience, and Purpose, I invite you to reflect on the wisdom encapsulated within these nuggets. Each lesson is not just a chapter—it is a philosophy. These lessons represent decades of challenges, triumphs, and reflections, offering guidance that will empower you to navigate the complexities of life with courage and conviction.

This appendix serves as both a keepsake and a teaser for the complete 3030 book, which will be released in 2025 to commemorate the 40th anniversary of Chams HoldCo PLC by God’s Grace. As you carry these lessons forward, let them serve as your guide, anchor, and inspiration. To fully immerse yourself in the 3030 journeys, follow the story on our social media platforms, where you will find the remaining lessons and more reflections.

Congratulations once again on your graduation. May these lessons inspire you to live boldly, serve selflessly, and lead with integrity. You are the future, and the world awaits the light you will bring.

Demola Aladekomo, November 2024

Wesleyan Heritage: A Panacea for physical, societal and Spiritual Growth

06 Dec

Developing Osun Local Content Value Chain for Shared Prosperity

Protocols: Honored Guests, Distinguished Stakeholders, Ladies and Gentlemen,

It is both a privilege to stand before you today as we gather with a shared vision—to create a future where Osun’s abundant resources serve as the foundation of our prosperity. I thank God for this opportunity and express my sincere gratitude to His Excellency, Senator Ademola Jackson Nurudeen Adeleke, for his commitment to transforming Osun’s economy from one reliant on civil service to one built on industry, entrepreneurship, and innovation. My first encounter with Governor Adeleke of not judging a book by its cover on the …..

As date, we have not yet started building the Tech City of our dreams that would generate 100,000 direct and indirect jobs. What we are building now should generate about 10,000 direct and indirect jobs by 2026, when we should have had 70% occupancy. We thank Mr. Bankole Omisore, Mr. Fritz Mobolaji Olaoye, and Hon George Ibitayo Alabi, Commissioner for Lands and Physical Planning, who made the current pure real estate play possible. However, I thank the Commissioner of Commerce, Rev Bunmi Jenyo, who has taken it up to make the project of building a work-live-play, cradle-to-gravel tech city reality.

We look forward to using TechCity as a means of creating some local content value chain for our shared prosperity.

Today’s theme, “Developing Osun Local Content Value Chain for Shared Prosperity,” calls us to reimagine the future of Osun State. It is a call to take pride in what we have, to believe in our people, and to invest in our resources. The journey to shared prosperity begins here, with each of us playing a part in transforming our rich heritage into tangible economic progress.

Osun State’s Competitive Advantages

Osun is blessed with an enviable position. Centrally located in the South-West, we are a hub connecting various markets and facilitating trade across regions. We have fertile land, mineral deposits, cultural assets, and a vibrant workforce. This mix of advantages gives us a unique position to drive an economy that thrives on local content. We have 18 tertiary institutions!

Our agricultural resources—from cocoa to cassava, rice, tomatoes, and plantains—are more than just crops. They are the ingredients for building an economy of locally processed goods. Imagine a future where Osun’s maize and soya beans are transformed into cereals, our cocoa into premium chocolate, our cassava into industrial starch, and our tomatoes into high-quality paste. Picture our tourist centers bustling with visitors. My people, this is not just talk—these are real possibilities if we align our actions with this vision.

A Necessary Shift in Mindset

To realize these possibilities, we must shift our mindset from dependency to self-reliance. Too often, we look outside for solutions when, in fact, the answers lie within our land, our people, and our heritage. We have the skills, materials, and expertise needed to build a resilient economy, one that uplifts our communities and creates lasting value.

This shift means investing in our local industries, supporting our entrepreneurs, and embracing the idea that Osun’s growth should be driven by Osun’s own. By turning our raw materials into finished products and empowering local businesses, we not only create jobs but also enhance our economic independence. It is this independence that will lead to a more stable and prosperous society for all.

Major shift of mindset must come from all of us especially Government officials

Embracing Mass Mobilization

Part of this necessary shift in mindset involves a mass mobilization campaign to engage our citizens in a unified vision of discipline, productivity, and patriotism. If we are truly committed to building a prosperous Osun, we need the entire populace to rise to the challenge. This isn’t just about policy—it’s about sparking a movement that transforms attitudes and habits. The Governor and Government must go into a campaign mode like MAMSER (mass mobilization for reliance, social justice and economic recovery) of Prof Jerry Gana

We have seen the power of such initiatives before. In 1983, the War Against Indiscipline (WAI) was launched across Nigeria to promote order, responsibility, and national pride. Through simple practices like punctuality, cleanliness, and respect for others, WAI changed public behavior significantly, creating a stronger sense of civic duty. This campaign showed us the power of collective action in fostering a culture of discipline and respect.

In Lagos, the Kick Against Indiscipline (KAI) initiative in 2003 took on critical issues like environmental sanitation and street trading. Through public education and enforcement, KAI helped make Lagos a cleaner, more organized place. We, too, need a movement in Osun that instills civic pride, responsibility, and a shared commitment to our state’s progress.

Here’s how we can achieve this:

Promote Civic Education: Educate citizens on their rights and responsibilities, emphasizing each person’s role in Osun’s development.
Encourage Community Involvement: Foster a culture where people actively engage in local projects, from clean-ups to supporting local businesses.
Instill State Pride: By celebrating Osun’s achievements, we strengthen our identity and unity, motivating people to support our shared goals. In the HazanaCity, we are building two unique facilities that can help achieve this: A Digital Museum that would showcase the history and culture of Osun State detailing the lives and times of our heroes, their achievements and challenges. And State Cemetary where our Heroes and top government functionaries can be buried and honored.

Through this mass mobilization, we can cultivate a disciplined, productive, and patriotic citizenry. Together, we lay the foundation for a resilient, prosperous, and proud Osun State.

Addressing the Education Emergency in Osun

Before we can fully unlock Osun’s potential, we must confront a pressing issue that underlies every other achievement: the education of our youth. A wise society invests in its children,

knowing they are the leaders, workers, and citizens of tomorrow. But right now, many of Osun’s young people lack access to the quality education and training they need to succeed. This isn’t just a challenge; it’s a crisis. The WAEC results are a disaster in of an unimaginable proportion. We must declare an “education emergency” in Osun to ensure every young person receives a solid foundation. Some here may remember our efforts with VolunterCorps where we turned around the situation for two academic years. Still doable!

Education—both academic and practical—must become non-negotiable. We need policies that make primary and secondary education compulsory for every child, along with measures to eliminate street trading and hawking that keep children out of school. No child in Osun should be on the street when they should be in a classroom, learning skills for their future.

Beyond secondary school, education must open diverse pathways. Not every student will pursue a university degree, but everyone should be able to build a valuable skill. Those passionate about artisanship, craftsmanship, or technical skills should have access to structured training programs. This way, we’re not just educating a generation—we’re preparing a skilled, versatile workforce ready to contribute to Osun’s growth.

Ladies and gentlemen, without educated and skilled citizens, any talk of economic transformation will remain just that—talk. To achieve lasting prosperity, we must start with our people. Let us make a collective commitment to invest in the education of Osun’s youth, laying a foundation for a future where they are empowered to lead, innovate, and drive our economy forward.

Permit me to throw a challenge here: We have two State Universities UniOsun and University of Ilesa. Can we create a Think Tank out of these two institutions to not only come up with solutions to this issue but also implement their solutions? The platform of VolunteerCorps we used 2017 and 2018 to ameliorate the issue can be discussed with the Think Tank as basis of their work. A I ki ni ooko ni le ka fi owo ko mi. Our Governor, ladies and gentlemen, Omo ti a o ko lo ma gbe ile ti a ko ta.! Kindly

Emphasis on two Initiatives for Local Growth within our area of expertise:

SmartCities: Let us discuss reasons why.
HazanaCity. Ah, this one is big! It’s the first polycentric smart city in Nigeria, a $1.2 billion investment. With its “work, live, and play” environment, HazanaCity will create 100,000 jobs and transform the lives of 250,000 people. It’s like living inside the future—but it’s happening here, in Osun. Tell me, how many states have this kind of vision? If you ask me, HazanaCity alone could make our people say, “Ehen, Osun don move o!” (Osun has truly advanced). We hope working with the Commerce Ministry of Rev Jenyo, we can achieve the full scale of the TechCity we envisage.
Agropolis: An agropolis is a modern, sustainable development concept that integrates agriculture into urban and peri-urban areas. The goal is to address food security, reduce the environmental and social impact of traditional farming, and foster a healthier, self-sufficient community. Can we learn from Gov Saraki’s experiment in Kwara, drastically improve on it, and start implementing at scale with the Israelis, Malaysians, etc

The Role of Government in Driving Local Content

The government’s role is to create policies, provide incentives, build infrastructure, and streamline regulations so businesses have no excuse not to thrive. To avoid doubt, the government has no business in business. A significant underutilized power the Government has is GOODWILL as different from patronage. Imagine a delegation of the state government led by the governor to Nestle, Guinness, Olam etc. What would they not get? Some other major roles that we need the government to play

Identification, Marketing, and promotions of Osun businesses and business people
Invitations and partnerships with large corporations and manufacturers are needed to come into the state on favorable terms. And
Local and foreign road shows and exhibitions with Osun based or owned businesses

Actionable Steps for Building Osun’s Local Content Value Chain

This brings me to what we can do. We can talk all day, but as they say, “Action speaks louder than words.” This is the time for local entrepreneurs to look at the resources around you. How can you turn cassava into starch, plantain into chips, or cocoa into chocolate? Don’t wait for someone from Lagos or Abuja to tell you—it’s all here.

Investors, Osun has fertile land, hard-working people, and the drive to succeed. There are many opportunities; all we need are those willing to invest in our future. And to everyone in our communities, let’s support our local businesses and celebrate Osun-made products. When you see someone doing something great, support them—don’t just say, “Ah, Osun no dey carry last,” be the reason Osun comes first! Let’s not be like the person given a whole yam and still asking for pounded yam.

A Call to Action: Transforming Osun for Shared Prosperity

Ladies and gentlemen, we’re all part of this movement. Developing Osun’s local content value chain isn’t just a policy—it’s a call to each of us to contribute to Osun’s greatness. It’s about building a future where our children can say, “I am proud to be from Osun.”

This state has what it takes to lead in Nigeria, but it will take each of us playing our part. We need leaders who prioritize local industries, businesses that source locally, and a community that supports homegrown products. Together, we can leave a legacy of prosperity and pride that generations will thank us for.

Conclusion

In closing, let’s remember that Osun’s future is in our hands. In other words, we have the resources to succeed, but we must also put in the work.

Let us move forward, committed to developing Osun’s local content value chain for a future filled with pride, prosperity, and promise. Naani naani naani, Oun tani lan naani.

Thank you, and God bless Osun State!

Demola Aladekomo November 19, 2024

08 Sep

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.

01 Feb

Demola Aladekomo Calls Out for Smart Cities Development in Nigeria Amidst Rapid Urban Migration

Renowned entrepreneur and Founder of Chams Plc, Sir Demola Aladekomo, has underscored the imperative of developing Smart Cities in Nigeria, responding to the United Nations’ projection of approximately 275 million Nigerians migrating from rural to urban areas by 2050. Aladekomo’s call to action took place during the 8th edition of the Lagos Chamber of Commerce and Industry’s (LCCI) 2022 Information Communication Technology and Telecommunication (ICTEL) Expo held recently in Lagos.

In his presentation on “Efficient Digital Infrastructures through Smart Cities,” Aladekomo reframed migration as a transformative process rather than a problem. He emphasized the importance of managing the migrating population effectively and understanding migration factors to harness its productive potential, mitigating negative societal impacts.

Citing UN estimates, Aladekomo highlighted that Nigeria’s population is projected to reach about 411 million by 2050 and 794 million by 2100, with rural-urban migration expected to hit 275 million in 2050. Drawing on former UN Secretary-General Ban Ki-Moon’s perspective on migration as an expression of human aspirations, Aladekomo emphasized the need to leverage migration for societal benefit.

Explaining the concept of Smart Cities, he described them as places that enhance the quality of life, offering entertainment, environmental sustainability, and improved security. Aladekomo proposed converting existing poorly structured cities into smart cities through polycentricity and agglomeration.

Polycentricity involves creating decentralized cities around existing urban centers, digitally managing them from inception, while agglomeration involves clustering them in specialized forms such as healthcare cities, technology cities, and agricultural cities. This approach aims to enhance productivity, commerce, cost optimization, job creation, and poverty alleviation.

Key components of Smart Cities, as outlined by Aladekomo, include Smart Governance, Smart Energy, Smart Citizen, Smart Healthcare, Smart Technology, Smart Mobility, Smart Building, and Smart Infrastructure.

Aladekomo suggested leapfrogging relevant technologies to address infrastructural deficits, emphasizing the government’s role in recognizing population growth as an opportunity. He called for accepting rural-urban migration as a reality, utilizing agglomeration and a polycentric governance approach, and leveraging technology for development and administration.

Highlighting SmartCity PLC’s ongoing projects in Ibadan and Osogbo through suburb polycentrism, Aladekomo concluded by urging private sector participation, good governance, adherence to the rule of law, building sustainable institutions, and acknowledging and replicating past successes.

The LCCI ICTEL Expo, where Aladekomo made these insightful remarks, serves as a vital platform for exploring opportunities in Nigeria’s Digital Economy, aligning with the government’s objectives to grow the digital economy and enhance e-governance.

01 Feb

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.

Category Archives: Technology

SmartCity, ChamsHoldco Synergizes with ICAN to Revolutionize Accounting Through Technology

Demola Aladekomo Calls Out for Smart Cities Development in Nigeria Amidst Rapid Urban Migration

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