In a notice to the Nigerian Exchange Limited and the investing public, the digital payments company disclosed that Access Bank Plc, Meristem Trustees Limited, acting as trustee for Accelerex Holdings, and eTranzact Global Limited transferred a combined 5,168,921,170 ordinary shares to Trademarks Global Concepts Limited. The shares represent 56.18 per cent of eTranzact’s issued ordinary shares.
Following the completion of the transaction, several directors representing the former shareholders stepped down from the Board. Two Independent Non Executive Directors also resigned as part of the changes.
The outgoing directors are Chuma Ajene, Benjamin Dabra and Afolabi Oladele, who served as Non Executive Directors, alongside Binta Max Gbinije and retired Major General Emeka Onwuamaegbu, both of whom served as Independent Non Executive Directors.
The company expressed appreciation to the departing directors for their service, commitment and contributions to eTranzact’s growth and development during their time on the Board.
To fill the vacant positions and strengthen its leadership structure, eTranzact appointed five new directors. Akinwunmi Akinfemiwa, Olatunde Akande and Doron Grupper joined as Non Executive Directors, while Omobola Hollist and Mustapha Ajenifuja were appointed Independent Non Executive Directors.
According to the company, the new appointees bring a broad range of experience in corporate leadership, banking, development finance, corporate governance, legal advisory, infrastructure, energy, investment management and business transformation.
Their combined expertise is expected to improve the Board’s ability to provide strategic direction, strengthen oversight and support the company’s long term business objectives.
eTranzact also confirmed that the Central Bank of Nigeria had approved the appointments. The company said it was updating its records with the Corporate Affairs Commission to meet the relevant regulatory requirements.
The latest changes mark a significant shift in the company’s ownership and governance structure as it seeks to advance its strategic plans and strengthen its position in Nigeria’s digital payments industry.
eTranzact reaffirmed its commitment to sound corporate governance, operational excellence and sustainable value creation for shareholders and other stakeholders. The company said it would continue to pursue its business priorities while responding to developments in the country’s evolving digital payments market.
