Alongside the CBN, NIBSS, Dermalog, and 22 commercial banks, we trained over 10,000 bank staff and deployed systems across more than 6,000 branches in all 36 states and the FCT, within six months. Today, virtually every Nigerian bank account is connected to a BVN.
THE BVN was born at the exact moment Chams was about to die.
By 2013, I had quietly accepted that the company might not survive. No cash, no leverage, no clear way forward. In my room, I prayed quietly, said “Ebenezer,” thanked God for the journey, and went to the office ready to tell my four CEOs it was over.
While I waited for them, one of my CEOs walked in holding a newspaper. The CBN had published a KYC tender. He looked at me and said, “We have to bid.”
Something shifted. I called my secretary and said, “Cancel the meeting.”
We were running on fumes, but we submitted the bid. Three teams worked on it independently, and two failed the evaluation. The third made the shortlist.
The next stage was in Brazil. Chams barely had any money left, yet we raised just enough to send two of our CEOs, with roughly a $ 1,000 travel budget, to defend a bid that would decide the future of the company. That was not confidence. That was desperation handed to God.
Then the doors began to close. The Bankers Committee had already leaned toward another bidder. I moved from meeting to meeting, leaving everyone empty-handed.
At that point, I was lost.
Then came the miracle. The then CBN Governor reviewed the committee’s position and said he was not at peace with it. He ordered a fresh review, and we were back in the room.
On the day of the final defense, one influential banker pulled me aside and said, “Demola, forget this job. In any other job, I will support you. But this one, forget it.” Hmmmm!!!
On the defense, one consortium faltered, and another team struggled under questioning. Chams stood firm. We answered everything. With Faith in God, Grace prevailed.
Chams won.
Then came execution. Alongside the CBN, NIBSS, Dermalog, and 22 commercial banks, we trained over 10,000 bank staff and deployed systems across more than 6,000 branches in all 36 states and the FCT, within six months. Today, virtually every Nigerian bank account is connected to a BVN.
The morning that the system was born, I had already said goodbye to the company.
Sometimes the story closest to ending is the one closest to changing everything.
If you are leading something that feels like it is failing today, what is keeping you from shutting it down too soon?
* https://www.linkedin.com/in/demola-aladekomo-6266b14b
