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 per cent 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 appointed five new directors, including nominees of Trademarks Global Concepts Limited and two Independent Non-Executive Directors, to bring additional experience and expertise to the Board.

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The outgoing directors are Chuma Ajene, Benjamin Dabra and Afolabi Oladele, all Non-Executive Directors; Binta Max-Gbinije, Independent Non-Executive Director; and Maj Gen Emeka Onwuamaegbu (rtd.), Independent Non-Executive Director.

The Board expressed appreciation to the outgoing directors for their service, contributions and commitment to the growth and development of the company during their tenure.

The newly appointed directors are Akinwunmi (Akin) Akinfemiwa, Olatunde Akande and Doron Grupper as Non-Executive Directors, while Omobola Hollist and Mustapha Ajenifuja were appointed Independent Non-Executive Directors.

According to the company, the new appointees collectively 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.

eTranzact disclosed that it had obtained the approval of the Central Bank of Nigeria (CBN) for the appointments and was updating its records with the Corporate Affairs Commission (CAC) in line with applicable regulatory requirements.

The company reaffirmed its commitment to strong corporate governance, operational excellence and sustainable value creation for shareholders and other stakeholders.

It added that it would continue to advance its strategic priorities while strengthening its position within Nigeria's evolving digital payments ecosystem.

The announcement was issued for the information of NGX, shareholders, stakeholders and the investing public.