eTranzact Gets New Majority Owner as Trademarks Buys 56%

In Short

• Trademarks Global Concepts has become the majority owner of eTranzact after buying 56.18% of the listed payments company.
• The shares came from Access Bank and two other shareholders, via an off market transfer.
• eTranzact has reshuffled its board, and says the CBN approved the new director appointments.

What Happened

Trademarks Global Concepts has taken control of eTranzact after acquiring a 56.18% stake. eTranzact is one of Nigeria’s early electronic payments firms, and it has operated since 2003.

The stake equals 5.17 billion shares, according to a notice filed with the Nigerian Exchange on October 13, 2026. The shares were transferred from Access Bank, Meristem Trustees Limited acting as trustee for Accelerex, and eTranzact Global Limited.

The deal was a secondary market, off market transfer. That means no new shares were created, and the buyer took over existing shares directly from the sellers.

After the ownership change, eTranzact replaced its board representation. Chuma Ajene, Benjamin Dabra, and Afolabi Oladele resigned as non executive directors. Independent directors Binta Max Gbinije and Major General Emeka Onwuamaegbu, retired, also exited.

New non executive directors include Akinwunmi Akinfemiwa, Olatunde Akande, and Doron Grupper. Omobola Hollist and Mustapha Ajenifuja, SAN, joined as independent non executive directors. eTranzact said the Central Bank of Nigeria approved these appointments.

Why It Matters

A majority stake gives Trademarks Global Concepts voting control. In practice, that means it can set strategy, approve key budgets, and influence management oversight through the board.

For Nigeria’s payments market, the deal shows how banks are reshaping their fintech and payments holdings. Access Bank decided to exit eTranzact in 2025, and the other shareholders left under a tag along arrangement, a clause that lets minority holders sell when a major holder sells.

There is no announced CEO change so far. eTranzact CEO Niyi Toluwalope was not listed among the outgoing or incoming directors in the filing, which suggests operational leadership is staying in place for now.