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Home / TRENDING / Here’s how Valentine Obi was forced to leave eTranzact

Here’s how Valentine Obi was forced to leave eTranzact

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Payment giant eTranzact is getting another Managing Director, he is Niyi Toluwalope who until his latest appointment was the company’s Chief Financial Officer.

He is taking over from Valentine Obi whose replacement was demanded by the Central Bank of Nigeria (CBN) in response to an alleged fraud on eTranzact platform totaling N11 billion.

In a statement confirming the leadership change, eTranzact also announced it is replacing its Executive Directors -Mr. Sullivan Akala and Mr. Ike Eze; Chief Technology Officer – Mr. Richard Omoniyi and Head of Operations – Mr. Kehinde Segun.

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“The eTranzact executives resigned honorably because they have the responsibility for governance in the company,” eTranzact stated.

It also denied that there was any fraud at its establishment and promised to work with CBN and other stakeholders to resolve any issue related to or arising from the management changes.

“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 company stated.  “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.”

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