Chams Holding Company Plc has notified the Nigerian Exchange Limited of the creation of a new Artificial Intelligence Infrastructure subsidiary, ChamsCorp Plc, as part of its expansion into advanced technology infrastructure and digital systems.
According to the company, the new entity will operate in digital device manufacturing, infrastructure development, data centre design and operations, artificial intelligence infrastructure, and intelligent systems. The move signals a strategic push to strengthen its footprint in emerging technology sectors across Nigeria and beyond.
The board of Chams Holdings also approved the appointment of Mohammed Bashir Yunusa as Chairman of ChamsCorp Plc, effective February 1, 2026. Yunusa, a finance specialist with nearly a decade of experience, currently leads consumer and digital banking for the non-interest retail division of Sterling Bank Nigeria and also serves as a non-executive director on Chams Holding’s board.
Olufemi Oyenuga has been appointed Managing Director/Chief Executive Officer of the new subsidiary. He is an information management and business intelligence analytics expert with cross-sector experience spanning healthcare, telecoms, ICT, manufacturing, and financial services. Following his appointment, Oyenuga has stepped down from his executive director role at the parent company and has been reclassified as a non-executive director effective the same date.
The board of Chams Holding includes prominent figures such as Demola Aladekomo as chairman and Mayowa Olaniyan as group managing director, alongside other directors drawn from finance, technology, and public sector backgrounds.
The company stated that it is still finalising internal strategic positioning for ChamsCorp and will provide further disclosures once material developments occur, in line with regulatory requirements. It added that filings are ongoing with the Corporate Affairs Commission and other relevant authorities.