eTranzact International Plc has transferred majority ownership to Trademarks Global Concepts Limited following the acquisition of 5.17 billion ordinary shares, representing 56.18% of the Nigerian payment technology company’s issued share capital.
The ownership change comes as eTranzact shares record a sharp recovery on the Nigerian Exchange Limited (NGX) with the stock appreciating by more than 43% from its October 2 closing price.
According to a regulatory disclosure dated October 13, 2026, Access Bank Plc, Meristem Trustees Limited, acting as trustee for Accelerex Holdings, and eTranzact Global Limited transferred a combined 5,168,921,170 shares to Trademarks Global Concepts.
The completed transaction gives the acquiring company a controlling equity interest in eTranzact and represents a major change in the ownership of one of Nigeria’s listed electronic payment service providers.
The transaction followed Access Bank’s decision in 2025 to dispose of its investment in eTranzact.
Other participating shareholders subsequently exercised their rights under an existing tag-along arrangement, allowing them to exit alongside the bank.
The company did not disclose the purchase consideration, leaving the transaction’s financial valuation undisclosed.
The transfer involved shares already held by existing investors rather than the issuance of new shares by eTranzact. Consequently, the acquisition does not, by itself, represent an injection of fresh capital into the company’s operations.
The development coincides with renewed investor interest in eTranzact’s shares.
As previously reported by Naijaonpoint, the company’s stock gained 9.96% on October 13, rising from N13.05 to N14.35 per share and emerging as the strongest performer on the NGX gainers’ table for the session.
The rally continued on October 14, when eTranzact appreciated by another 9.76% to close at N15.75 per share.
The latest closing price represents an increase of N4.75, or approximately 43.2% from the N11 recorded on October 2.
The recovery follows an earlier period of weakness in which the stock declined from N12.50 in late September to N11 at the beginning of October.
By October 14, eTranzact had recovered those losses and advanced beyond its earlier trading levels.
The movement is particularly notable because the company’s share price strengthened even as the broader Nigerian equity market experienced periods of selling pressure.
However, the rally began before the October 13 ownership disclosure, and the available information does not establish that the acquisition was responsible for the increase in the share price.
The ownership transition also resulted in a substantial reconstitution of eTranzact’s board of directors.
Five directors representing the previous governance structure resigned following the completion of the share transfer.
They include Chuma Ajene, Benjamin Dabra and Afolabi Oladele, who served as Non-Executive Directors, as well as Independent Non-Executive Directors Binta Max-Gbinije and retired Major General Emeka Onwuamaegbu.
In their place, the company appointed Akinwunmi Akinfemiwa, Olatunde Akande and Doron Grupper as Non-Executive Directors representing the incoming majority shareholder.
Omobola Hollist and Mustapha Ajenifuja, SAN, were also appointed as Independent Non-Executive Directors.
The Central Bank of Nigeria has approved the appointments, while the company is completing the necessary updates to its corporate records with the Corporate Affairs Commission.
The incoming directors bring experience across financial services, corporate restructuring, investment management, infrastructure and legal advisory.
Akinfemiwa previously served as Group Chief Executive Officer of Forte Oil Plc and Managing Director of Geregu Power Plc, while Akande has held senior positions in development finance and investment management.
Grupper has worked in banking, energy and infrastructure management, adding international corporate experience to the newly constituted board.
For shareholders, the immediate significance of the transaction extends beyond the transfer of voting control.
With more than half of the company’s equity now held by a single investor, Trademarks Global Concepts will have substantial influence over future shareholder decisions, subject to applicable laws, governance requirements and minority shareholder protections.
The market will consequently be watching for indications of the new majority shareholder’s business strategy, investment priorities and approach to eTranzact’s operations.
The acquisition also raises questions about whether the new ownership structure could lead to changes in capital allocation, partnerships or expansion plans within Nigeria’s competitive digital payments industry.
No specific investment programme or operational restructuring has been confirmed in the ownership disclosure.
Investors will therefore need to distinguish between the completed change of control and any future strategic decisions that may emerge from the new board.
The company’s recent share-price appreciation has brought additional attention to the transition, but the sustainability of that performance will ultimately depend on developments including earnings, business execution, investor demand and broader market conditions.
With 56.18% of its shares now under new ownership and five directors appointed, eTranzact enters a new corporate phase as investors assess the implications for governance, growth and shareholder value.