eTranzact International PLC, Africa’s
premier e-payments solution provider, on Monday May 21, 2018, announced that it
will be making significant changes to the Company’s management team.
Mr. Valentine Obi, Managing Director
of the Company will be stepping down and Mr. Niyi Toluwalope will be taking
over as the Managing Director in acting capacity. Until his appointment, Mr.
Niyi Toluwalope was the Chief Financial Officer, a position he has held since
2011. Other executive positions affected by the management changes are:
Executive Directors -Mr. Sullivan Akala and Mr. Ike Eze; Chief Technology
Officer - Mr. Richard Omoniyi and Head of Operations - Mr. Kehinde Segun.
eTranzact is aware of recent Business
Day publications about these management changes and wishes to announce that the
changes are strictly eTranzact Board’s decision, and would like to advise all
its stakeholders that it is working closely with the regulators, and all other
relevant Stakeholders to resolve any issue related to or arising from the
management changes.
In addition, we want to categorically
state that there was no fraud in eTranzact International Plc, however a
merchant used the company’s interface with a bank to perpetrate fraud. The
eTranzact executives resigned honorably because they have the responsibility
for governance in the company. Also, there is no truth about PricewaterhouseCoopers
(PwC) or Ernst & Young reviewing the Accounts of the Company. eTranzact
retains PwC from time to time for various technology related assignments and
none has to do with reviewing the Company’s Accounts.
The ISO certifcations are a testament
to eTranzact’s focus in adopting and implementing global and best practices to
ensure effectiveness, efficiency, confidentiality and integrity in its day to
day operations. This marks the beginning of a new journey for the company.”
About eTranzact
eTranzact is Africa’s leading
provider of mobile banking and payment services. We are the first fully
operational multi-application and multi-channel electronic transaction
switching and payment processing company that is publicly quoted on the Nigeria
Stock Exchange. Our vision is: ‘To be a leading global
provider of mobile transaction services, leveraging on our award winning mobile
switching platform’ and since 2003, we have been at the fore front of
delivering cutting edge electronic and mobile payment products and services to
customers that cut across virtually all works of life.
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