Valentine Obi, the Managing Director of premier e-payments solution provider eTranzact International Plc, resigned voluntarily, the company said yesterday.
eTranzact, on Monday May 21, 2018, announced that it will be making significant changes to the Company’s management team.
Obi, Managing Director of the Company will be stepping down and Niyi Toluwalope will be taking over as the Managing Director in acting capacity.
Until his appointment, Toluwalope was the Chief Financial Officer, a position he has held since 2011.
Other executive positions affected by the management changes are: Executive Directors -Sullivan Akala and Ike Eze; Chief Technology Officer – Richard Omoniyi and Head of Operations – Kehinde Segun.
The eTranzact executives resigned honorably because they have the responsibility for governance in the company.
“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.
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.”
eTranzact is Africa’s leading provider of mobile banking and payment services. It is 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.
Since 2003, eTranzact has 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.
“As a regulated entity operating in the sensitive space of electronic payments, eTranzact is re-tooling its systems and revamping its management to prevent a re-occurrence of this sort of incidence. eTranzact is also working closely with its regulator and relevant stakeholders to ensure the issue is resolved very quickly,” the Company said.
FRANK ELEANYA
