The Managing Director, eTranzact International Plc, Mr. Olaniyi Toluwalope, has said the company processed over N50tn transactions in the 2022 financial period.

He disclosed this during the company’s 19th annual general meeting in Lagos while presenting his report in the financial statements of the company.

Toluwalope said, “eTranzact International Plc as one of the foremost payment service providers in the payment industry in Nigeria processed over N50tn in value of total transactions processed in 2022. The value increased significantly in comparism to the N39tn processed in 2021.

“The company is well positioned and has enhanced the capacity to further process more transactions going forward.”

According to him, the company ensured a 99 per cent success rate and uptime across the various service offerings during 2022.

This, he said, involved the deployment of technology and the required expertise to ensure prompt and seamless processing of transactions, and to ensure constant availability of all the channels with minimal to zero downtime.

The managing director said, “eTranzact continued and fostered the partnerships with public sector including the Federal Government, state governments and ministries, Departments and Agencies in 2022.

The Chairman, eTranzact International Plc, Mr Wole Abegunde, also said the company’s profit rose by 157.81 per cent in 2022 financial period.

“2022 was a significant year in the history of the company’s financial performance as the company was able to achieve an unprecedented profit after tax of N1.17bn which represents a 157.81 per cent increase over the prior year,” he said.

The focus and expansion of the company’s core switching services had been pivotal in the improvement of the company’s performance, he noted.

According to the chairman, the landmark achievement was due to the management’s drive for excellence and the demonstration of the commitment of the management and the board to ensure maximum returns on the investment of shareholders.

“The company will not relent on the performance and will seek more business opportunities to boost subsequent financial results,” he said.

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