MTN Nigeria Communications Plc has announced an insider share transaction involving the purchase of more than 1.23 million ordinary shares through its employee share acquisition scheme.
The transaction, valued at about N921.8 million, was carried out on the floor of the Nigerian Exchange Limited and disclosed in a regulatory filing submitted to the market.
According to the company, the shares were purchased by the MTNN Employee Share Acquisition Scheme, which is regarded as a related party to the telecommunications firm.
MTN Nigeria’s Company Secretary, Uto Ukpanah, said the disclosure was made in line with regulatory requirements on share dealings by insiders.
Ukpanah explained that the transaction formed part of the company’s structured employee share ownership arrangement, designed to promote staff participation in the company’s long-term value creation.
The shares were acquired in five separate tranches during a single trading window.
A breakdown of the transaction showed that 400,000 shares were purchased at N734.16 per share in the first tranche, while 10,400 shares were acquired at N748.83 per share in the second tranche.
The third tranche involved 301 shares bought at N753.37 per share. In the fourth tranche, 49,271 shares were purchased at N753.76 per share, while the final tranche accounted for 773,327 shares at N753.86 per share.
In total, the employee 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 watchers say insider purchases by employee share schemes are often viewed as a sign of internal confidence in a company’s future performance, especially when the transaction involves a large volume of shares.
The disclosure also noted that the transaction was carried out under MTN Nigeria’s Legal Entity Identifier, which is used to identify the company in global financial transactions.
MTN Nigeria said the filing serves as formal notice to the market and regulators that the share purchase was completed on behalf of its employee ownership structure.
The company remains under the leadership of its board, chaired by Dr Ernest Ndukwe, with Dr Karl Toriola serving as Chief Executive Officer.
