Trademarks Global Concepts Limited now controls more than half of eTranzact International Plc, one of Nigeria’s earliest electronic payments companies, which started operations in 2003.
A transfer of 5.17 billion shares, representing 56.18% of eTranzact, brought the new controlling shareholder into the listed payments company and led to a complete change in its board representation.
The outgoing shareholders were Access Bank Plc, which decided to exit the company in 2025; Meristem Trustees Limited, acting as trustee for Accelerex Holdings; and eTranzact Global Limited.
The three parties transferred their combined stake to Trademarks Global Concepts, according to a notice eTranzact filed with the Nigerian Exchange Limited on October 13, 2026.
Access Bank was a major shareholder and strategic partner of eTranzact. Its decision to leave set the stage for the change in ownership, with the other shareholders also exiting under a tag-along arrangement.
Trademarks Global Concepts acquired the shares through a secondary-market, off-market transfer. The transaction did not involve the issuance of new shares. The buyer purchased existing equity directly from the exiting shareholders.
The acquisition was completed through private investment capital and strategic corporate funding, as reported.
The ownership change was followed by a board overhaul. Chuma Ajene, Benjamin Dabra, and Afolabi Oladele resigned as non-executive directors, alongside independent directors Binta Max Gbinije and retired Major General Emeka Onwuamaegbu.
They were replaced by Akinwunmi Akinfemiwa, Olatunde Akande, and Doron Grupper as non-executive directors, while Omobola Hollist and Mustapha Ajenifuja, SAN, joined as independent non-executive directors. eTranzact said the Central Bank of Nigeria (CBN) approved the appointments.
The new board brings experience across banking, investment, corporate restructuring, energy, infrastructure, and governance.
Akinfemiwa previously served as chief executive of Geregu Power Plc and Forte Oil Plc and a non-executive director at First Bank of Nigeria, while Akande has worked in development finance and investment management, including at the Central Bank of Nigeria and the International Finance Corporation. Grupper served as an independent non-executive director on the board of Geregu Power Plc.
Omobola worked with the African Development Bank Group for 32 years, leaving in 2023 as financial controller/director.
Niyi Toluwalope, eTranzact’s chief executive officer, is not listed among the outgoing or incoming directors in the October 13 notice, and the company has not announced a change in the CEO’s position.
Who is Trademarks Global Concepts?
Trademarks Global Concepts is a Nigerian private limited liability company incorporated on August 28, 2012. Corporate records identify Abisola Abegunde, Oluwole Abegunde (a former Group Managing Director and CEO of Meristem Securities Limited), Oluwasepe Abegunde, and Ayinoluwa Abegunde as directors.
The company is registered under the broad category of “General Merchants & Traders” and has a registered office in Yagba, Kogi.
It has no publicly visible corporate website, press office, or marketing platform and does not appear to operate as a consumer-facing brand. Its acquisition of eTranzact suggests that it also functions as a private holding and investment vehicle capable of acquiring and managing a controlling stake in a listed company.
Public records provide limited information about its ownership, operations, and investment strategy beyond its corporate registration and role in the eTranzact transaction.
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The business behind the shares
eTranzact enters the ownership change with a growing but pressured financial profile.
The company recorded revenue of ₦16.28 billion in the first half of 2026, up 22.6% from ₦13.28 billion in the corresponding period of 2025, according to its financial results. However, profit after tax fell to ₦1.22 billion as operating costs increased.
The divergence between revenue and profit will be important for the new owners. In payments, transaction volumes, processing costs, pricing, and infrastructure investment all affect returns, so higher revenue does not automatically produce stronger earnings.
Trademarks Global Concepts therefore inherits an established payments business with room to expand but also one that must convert growth into more sustainable profitability. Nigeria’s payments market remains competitive, with banks, fintechs, and tech providers competing for merchants, businesses, and consumers.
The new owner could provide fresh capital, introduce a different management approach, or develop new commercial relationships. It could also retain eTranzact’s existing strategy.
The new board’s experience creates a platform for considering options across payments, technology, finance, and corporate growth, but the company has not publicly outlined its plans.