eTranzact International Plc has reshaped its board following Trademarks Global Concepts Limited’s acquisition of a controlling 56.18% stake in the company.
The company disclosed this in a recent filing with the Nigerian Exchange Limited (NGX), announcing the appointment of new directors following the transaction.
The acquisition involved the transfer of 5,168,921,170 ordinary shares by Access Bank Plc, Meristem Trustees Limited, as trustee for Accelerex Holdings, and eTranzact Global Limited, with Access Bank and Accelerex exiting their respective stakes in the payments company.
eTranzact disclosed the share transfer in a notification to the NGX and the investing public. The company also announced changes to its board following the completion of the transaction.
The new appointments include Akinwunmi (Akin) Akinfemiwa, Olatunde Akande and Doron Grupper as Non-Executive Directors, alongside Omobola Hollist and Mustapha Ajenifuja, SAN, as Independent Non-Executive Directors.
The company stated that it has obtained Central Bank of Nigeria approval for the appointments and is updating its records with the Corporate Affairs Commission in accordance with applicable regulatory requirements.
Nairametrics earlier reported the eTranzact sale in August. Sources with knowledge of the transaction told Nairametrics that the deal followed months of negotiations between the parties involved.
Unlike the Ghana transaction, the eTranzact sale represents a full exit from a domestic associate, according to the supplied account of the transaction.
Access Bank has not publicly stated its reasons for selling its stake in the payments company.
eTranzact International Plc grew revenue by 22.6% to N16.28 billion in the first half of 2026. The payments company expanded its operations during the period, ahead of the latest announcement detailing the share transfer and appointments to its board.
Akinfemiwa also previously served as Group Chief Executive Officer of Forte Oil Plc, formerly African Petroleum Plc.
