eTranzact appoints five directors after ownership change

eTranzact International Plc has appointed five new directors following a change in its majority ownership structure.

The company disclosed this in a statement issued on Tuesday, following the transfer of 5.17 billion ordinary shares, representing 56.18 per cent of its issued shares, to Trademarks Global Concepts Ltd.

The shares were transferred by Access Bank Plc, Meristem Trustees Ltd., acting as trustee for Accelerex Holdings, and eTranzact Global Ltd.

The company said the transaction resulted in the resignation of five directors, comprising three Non-Executive Directors and two Independent Non-Executive Directors.

The outgoing directors are Chuma Ajene, Benjamin Dabra, Afolabi Oladele, Binta Max-Gbinije and Emeka Onwuamaegbu.

The new appointees are Akinwunmi Akinfemiwa, Olatunde Akande and Doron Grupper as Non-Executive Directors, while Omobola Hollist and Mustapha Ajenifuja were appointed Independent Non-Executive Directors.

According to the company, the new directors bring experience in corporate leadership, banking, development finance, governance, legal advisory, infrastructure, energy, investment management and business transformation.

It said the appointments were expected to strengthen the board’s strategic oversight and support the company’s long-term objectives.

The company added that it had obtained approval from the Central Bank of Nigeria for the appointments and was updating its records with the Corporate Affairs Commission.

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The ownership transition follows changes in the company’s shareholding structure, with Trademarks Global Concepts Ltd. emerging as its majority shareholder.

eTranzact provides electronic payment processing services and operates in Nigeria’s digital payments industry.

The company said it remained committed to strong corporate governance, operational excellence and sustainable value creation for shareholders and other stakeholders.