MTN Nigeria has disclosed an insider share acquisition under its Employee Share Acquisition Scheme, with employees purchasing more than 1.23 million ordinary shares valued at approximately ₦921.8 million.
According to a filing with the Nigerian Exchange (NGX), the shares were acquired at an average price of ₦747.42 per share through five separate tranches executed on June 19, 2026, in Lagos.
The Company Secretary Uto Ukpanah said the disclosure was made to comply with regulatory requirements governing insider transactions:
“The notification of share dealing by insiders is a regulatory compliance prerequisite. In this instance, the transaction involves the MTN Employee Share Acquisition Scheme, which is designated as a related party to the issuer” – Ukpanah
The acquisition was executed in five tranches, ranging from 301 shares to 773,327 shares, with prices between ₦734.16 and ₦753.86 per share. MTN Nigeria said the purchases were carried out under its established operational guidelines and identified through the global Legal Entity Identifier of the company.
The latest transaction follows a series of employee share awards and executive share purchases in recent months. Earlier in June, MTN Nigeria’s Chief Financial Officer, Modupe Kadri, acquired about 1.59 million shares worth ₦1.25 billion, while the company also vested 129,129 ordinary shares in six employees under its long-term incentive plan.
