eTranzact announces Board changes following ownership transition

eTranzact International Plc has announced changes to the composition of its Board of Directors following the completion of a shareholding transaction that resulted in a change in the Company’s majority ownership structure.

In a notification to Nigerian Exchange Limited (NGX) and the investing public, the Company disclosed that Access Bank Plc, Meristem Trustees Limited (as Trustee for Accelerex Holdings), and eTranzact Global Limited transferred an aggregate of 5,168,921,170 ordinary shares, representing 56.18 percent of the Company’s issued ordinary shares, to Trademarks Global Concepts Limited.

Following the completion of the transaction, directors representing the exiting shareholders resigned from the Board alongside two Independent Non-Executive Directors. The Company has also appointed new Directors, including nominees of Trademarks Global Concepts Limited and two Independent Non-Executive Directors, bringing additional experience and expertise to the Board.

Board Resignations

The following Directors have resigned from the Board:

• Chuma Ajene – Non-Executive Director
• Benjamin Dabra – Non-Executive Director
• Afolabi Oladele – Non-Executive Director
• Binta Max-Gbinije – Independent Non-Executive Director
• Maj Gen Emeka Onwuamaegbu (rtd). – Independent Non-Executive Director

The Board expresses its appreciation to the outgoing Directors for their service, contributions and commitment to the growth and development of the Company during their tenure.

Board Appointments

The following individuals have been appointed to the Board:

• Akinwunmi (Akin) Akinfemiwa – Non-Executive Director
• Olatunde Akande – Non-Executive Director
• Doron Grupper – Non-Executive Director
• Omobola Hollist – Independent Non-Executive Director
• Mustapha Ajenifuja, SAN – Independent Non-Executive Director

Collectively, the new appointees bring significant experience across corporate leadership, banking, development finance, governance, legal advisory, infrastructure, energy, investment management and business transformation. Their appointments are expected to strengthen the Board’s capacity to provide strategic oversight and support the Company’s long-term objectives.

The Company has obtained the approval of the Central Bank of Nigeria (CBN) for the appointments and is updating its records with the Corporate Affairs Commission (CAC) in accordance with applicable regulatory requirements.

eTranzact remains committed to strong corporate governance, operational excellence and sustainable value creation for shareholders and other stakeholders. The Company will continue to advance its strategic priorities while strengthening its position within Nigeria’s evolving digital payments ecosystem

This announcement is issued for the information of Nigerian Exchange Limited, shareholders, stakeholders and the investing public.