eTranzact International Plc Revamps Board After Stake Acquisition

eTranzact International Plc has reconstituted its board following a share transfer that granted Trademarks Global Concepts Limited a 56.18 percent stake in the company. This transaction involved Access Bank Plc, Meristem Trustees Limited, acting as trustee for Accelerex Holdings, and eTranzact Global Limited transferring 5.17 billion ordinary shares to Trademarks Global Concepts.

The share transfer resulted in the exit of five directors, including three non-executive directors and two independent non-executive directors. The departing directors are Chuma Ajene, Benjamin Dabra, Afolabi Oladele, Binta Max-Gbinije, and Major General Emeka Onwuamaegbu.

The new board members include Akinwunmi Akinfemiwa, Olatunde Akande, and Doron Grupper as non-executive directors, along with Omobola Hollist and Mustapha Ajenifuja as independent non-executive directors. The Central Bank of Nigeria approved these appointments, which aim to strengthen oversight and support eTranzact's long-term strategy in Nigeria's digital payments sector.

The company acknowledged the contributions of the outgoing directors and remains focused on corporate governance and operational performance.