WorldStage– eTranzact International Plc has notified the Nigerian Exchange Limited (NGX) and the investing public of significant changes to the composition of its Board of Directors following a major shift in its shareholding structure.
Access Bank Plc, a major shareholder and strategic partner, decided to exit the company in 2025.
Pursuant to a tag-along arrangement involving Access Bank Plc, Meristem Trustees Limited (as trustee for Accelerex Holdings) and eTranzact Global Limited, the parties transferred an aggregate of 5,168,921,170 ordinary shares, representing a 56.18% equity interest, to Trademarks Global Concepts Limited.
Following the completion of the share transfer, the directors representing the exiting shareholders resigned from the Board, alongside two Independent Non-Executive Directors. In their place, the company has appointed new directors nominated by Trademarks Global Concepts Limited, as well as two new Independent Non-Executive Directors.
Resignations
- 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
New Appointments
- Akinwunmi (Akin) Akinfemiwa – Non-Executive Director
Seasoned executive with experience across engineering, IT, banking, oil & gas, power generation and corporate restructuring. Former MD/CEO of Geregu Power Plc and Group CEO of Forte Oil Plc/African Petroleum Plc. Currently a Non-Executive Director at First Bank of Nigeria Limited. - Olatunde Akande – Non-Executive Director
Development finance and investment executive with over two decades of experience in banking, private equity, financial inclusion and SME development. Former Executive Director (Technical) at NIRSAL Plc and Director of Portfolio Management at the Africa Enterprise Challenge Fund (AECF). - Doron Grupper – Non-Executive Director
Senior executive with extensive experience in banking, energy and infrastructure. Former CEO of several energy and infrastructure companies, including Dorad Energy Ltd and Elran Infrastructure Ltd, and former Executive Chairman of Mekorot Water Company Ltd (Israel’s national water company). - Omobola Hollist – Independent Non-Executive Director
Development finance executive and governance specialist with over 35 years’ experience, including service as Financial Controller at the African Development Bank Group. - Mustapha Ajenifuja, SAN – Independent Non-Executive Director
Senior Advocate of Nigeria with expertise in commercial litigation, regulatory compliance, corporate governance, financial transactions and capital market advisory.
The company has obtained the approval of the Central Bank of Nigeria for the appointments of the new directors and is updating its records with the Corporate Affairs Commission.
The board reconstitution marks a significant change in the governance and ownership structure of eTranzact, a key player in Nigeria’s digital payments and fintech space. Investors will be monitoring how the new board and majority shareholder influence the company’s strategic direction, growth initiatives and overall performance going forward.
