Wednesday, May 23, 2018 /09:10 AM/ NSE
eTranzact International PLC (”The Company”/”eTranzact”) wishes to inform its esteemed Shareholders, Stakeholders, The Nigerian Stock Exchange (”The Exchange”) and the general public 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 a recent media publication 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 eTranzact executives had to honorably step down because the reported fraud happened under their watch and not for their personal indictment. 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.