Chams, Govt is frustrating local IT companies, Chams boss says, Technology Times

Govt is frustrating local IT companies, Chams boss says

Govt is frustrating local IT companies, Chams boss says

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Sir Demola Aladekomo, Managing Director of Chams, has said that the Federal Government is frustrating local ICT companies in Nigeria.
[blockquote right=”pull-right” cite=”Sir Demola Aladekomo, Managing Director of Chams”]“Unfortunately, they frustrated the local companies by not giving them approval at the right time, frustrated the companies by taking three years to draft a concession agreement. They frustrated the local companies by wasting investment worth more than N8 billion that the companies have put down, including Chams Plc.” [/blockquote]
This accusation came in a response to why the Federal Government shunned local IT companies like Chams and others for an American company in the national identity card project.
Chams, Govt is frustrating local IT companies, Chams boss says, Technology Times
Chris Onyemenam, Director-General of NIMC
Aladekomo, who was speaking in an interview, said IT companies had it different in 2007, as the government then gave jobs to IT companies, one of which belongs to him.
According to him, subsequent government decided through the National Identity Management Commission (NIMC) the national identity project was seen as a contract, as opposed to a concession, where the government was not supposed to spend its own money.
The only thing required from the government was to provide a regulatory environment to get the job done, he said.
Aladekomo said that “unfortunately, they frustrated the local companies by not giving them approval at the right time, frustrated the companies by taking three years to draft a concession agreement. They frustrated the local companies by wasting investment worth more than N8 billion that the companies have put down, including Chams Plc.”
According to him, “Chams invested N8 billion into that project and NIMC frustrated it. An N8 billion of shareholders money for a company quoted on the Stock Exchange, it’s a lot of money and NIMC frustrated it because NIMC wanted to do contract.”
Aladekom adds that, “so, it is that contract they are doing now by frustrating us, which in doing so, they are not helping the local companies. And that is why we are saying the rule of law is very important. Why would the same government who signed a concession agreement be the same government to be turning it into a contract? That is a disaster for the economy.”
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