MTN Nigeria Communications Plc has disclosed a major insider equity transaction, with its employee share acquisition vehicle purchasing more than 1.23 million ordinary shares from the Nigerian Exchange Limited (NGX).
The transaction, valued at approximately N921.8 million, was executed through multiple trading tranches in a single trading window, reflecting the company’s continued commitment to expanding employee ownership and aligning staff interests with its long-term corporate objectives.
The disclosure was contained in an official notification of share dealing by insiders filed with the Nigerian Exchange.
Commenting on the transaction, the Company Secretary of MTN Nigeria, Uto Ukpanah, said the acquisition formed part of the company’s employee share acquisition scheme, which is recognised as a related party under regulatory requirements.
He explained that the filing was made to comply with regulatory obligations and to notify the market and relevant authorities of the successful execution of the share purchases on behalf of employees.
According to the filing, the acquisition was executed in five separate tranches to optimise market liquidity and secure favourable pricing.
The first tranche comprised 400,000 ordinary shares purchased at N734.16 per share.
The second tranche involved 10,400 shares at N748.83 per share, while the third tranche consisted of 301 shares acquired at N753.37 per share.
The fourth tranche accounted for 49,271 shares purchased at N753.76 per share.
The final and largest tranche saw the acquisition of 773,327 shares at N753.86 per share.
Overall, the employee share scheme acquired 1,233,299 ordinary shares at a volume-weighted average price of N747.42 per share.
The transaction was executed in Lagos on June 19, 2026.
Market analysts said large-scale purchases by employee share schemes often strengthen investor confidence because they signal management’s belief in a company’s long-term financial performance and growth prospects.
The notification also disclosed that the transaction was carried out under the Legal Entity Identifier (LEI) 0292003626J3K6UG9D04, which serves as MTN Nigeria Communications Plc’s global financial identification code.
It added that the company’s board, led by Chairman Dr Ernest Ndukwe, alongside Chief Executive Officer Dr Karl Olutokun Toriola and Chief Financial Officer Modupe Kadri, continues to provide strategic oversight aimed at delivering sustainable value for shareholders.
