eTranzact International Plc has appointed five new directors following the transfer of a 56.18% controlling stake to Trademarks Global Concepts Limited, marking a major change in the ownership and governance of the Nigerian payments company.
The appointments were disclosed in a notification to the Nigerian Exchange Limited (NGX) dated October 13, 2026, following the transfer of 5,168,921,170 ordinary shares previously held by three shareholders.
The new directors are Akinwunmi (Akin) Akinfemiwa, Olatunde Akande and Doron Grupper, who will serve as non-executive directors, alongside Omobola Hollist and Mustapha Ajenifuja, SAN, appointed as independent non-executive directors.
According to the company, the appointees bring experience spanning corporate leadership, banking, development finance, governance, legal advisory, infrastructure, energy and investment management.
The board changes followed the transfer of the shares by Access Bank Plc, Meristem Trustees Limited, acting as trustee for Accelerex Holdings, and eTranzact Global Limited to Trademarks Global Concepts.
In its October 13 filing, eTranzact said the transaction followed Access Bank’s decision in 2025 to exit the company. The other shareholders subsequently opted to sell their holdings under a tag-along arrangement.
The transaction resulted in the departure of five directors, including three non-executive directors representing the outgoing shareholders and two independent non-executive directors.
The outgoing directors are Chuma Ajene, Benjamin Dabra and Afolabi Oladele, as well as Binta Max-Gbinije and retired Major General Emeka Onwuamaegbu.
The company said the Central Bank of Nigeria (CBN) had approved the new appointments, while the process of updating the company’s records with the Corporate Affairs Commission (CAC) was ongoing.
The ownership change gives Trademarks Global Concepts a majority stake in eTranzact, with the new board composition reflecting the transition from the previous shareholder structure.
The company did not disclose the financial value of the share transfer in the notification.
