eTranzact International Plc has announced a major board reshuffle following the acquisition of a 56.18% controlling stake by Trademarks Global Concepts Limited. The stake, totaling over 5.16 billion shares, was acquired from previous shareholders including Access Bank Plc, Meristem Trustees Limited (for Accelerex Holdings), and eTranzact Global Limited.

In connection with this ownership change, five directors resigned from the board, including those representing the exiting shareholders and two independent non-executive directors. The company has appointed five new directors to replace them, including nominees of Trademarks Global Concepts and two independent non-executive directors. The Central Bank of Nigeria has approved these appointments, which the company states will strengthen its strategic oversight and support its long-term objectives in the digital payments sector.