eTranzact Regulates N50 Trillion In Transactions

eTranzact Regulates N50 Trillion In Transactions

According to Mr. Olaniyi Toluwalope, Managing Director of eTranzact International Plc, the company processed more than N50 trillion worth of transactions during the 2022 financial year.

He revealed this while presenting his report on the company’s financial statements at the 19th annual general meeting in Lagos.

Toluwalope stated, “eTranzact International Plc processed over N50tn in value of total transactions processed in 2022 as one of the leading payment service providers in the payment industry in Nigeria. In comparison to the N39tn processed in 2021, the value increased significantly.

The company has improved its capacity to process additional transactions moving forward and is well-positioned.

He claimed that in 2022, the business would guarantee a 99.9% success rate and uptime for all of its service offerings.

According to him, this required the application of technology and the necessary knowledge to guarantee quick and seamless transaction processing as well as continuous channel availability with little to no downtime.

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

Mr. Wole Abegunde, the chairman of eTranzact International Plc, also reported that the company’s profit increased by 157.81 percent in the 2022 fiscal year.

“2022 was a significant year in the company’s financial performance history 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.

He said that a key factor in the company’s performance improvement had been the company’s focus on and expansion of its core switching services.

According to the chairman, the historic accomplishment was made possible by management’s pursuit of excellence and the board’s and management’s shared commitment to maximizing shareholder returns on investment.