MTN Staff Scheme Mops Up ₦921.8m Shares in NGX Confidence Boost

​

​LAGOS — Telecoms powerhouse MTN Nigeria Communications Plc has injected a fresh wave of market optimism into the Nigerian Exchange Limited (NGX) following a massive insider equity acquisition by its corporate employee share vehicle.

​The institutional move saw the scheme accumulate 1,233,299 ordinary shares, valued at approximately ₦921.8 million, within a single trading window. Market analysts view the large-scale transaction as a decisive vote of internal confidence in the telecom company’s long-term revenue sustainability and balance sheet strength.

ADVERTISEMENT

​According to official regulatory filings submitted to the Exchange, the strategic volume accumulation was executed on June 19, 2026, at a volume-weighted average price of ₦747.42 per share.

​Strategic Execution Across Five Tranches

​To safely navigate market liquidity and optimize entry points, the MTNN Employee Share Acquisition scheme split the transaction across five distinct trading tranches:

• ​Tranche 1: 400,000 shares priced at ₦734.16 per share.

• ​Tranche 2: 10,400 shares priced at ₦748.83 per share.

• ​Tranche 3: A minor traction of 301 shares at ₦753.37 per share.

• ​Tranche 4: 49,271 shares at ₦753.76 per share.

• ​Tranche 5: A final dominant block of 773,327 shares at ₦753.86 per share.

​Commenting on the compliance filing, MTN Nigeria’s Company Secretary, Uto Ukpanah, emphasized that the multi-tranche execution aligns directly with the group’s public operational guidelines.

​”The notification of share dealing by insiders is a regulatory compliance prerequisite,” Ukpanah stated. “In this instance, the transaction involves the MTNN Employee Share Acquisition scheme, which is designated as a related party to the issuer. This filing serves as an initial notification to the market and regulatory authorities, confirming the seamless execution of ordinary share purchases on behalf of our personnel ecosystem.”

​Aligning Staff with Corporate Growth

​The transaction reflects a broader corporate strategy by MTN to deepen employee asset ownership and lock in long-term alignment between personnel interests and overall shareholder value. This development follows a highly productive financial cycle for the telco, which recently reported a pre-tax profit of ₦546.42 billion for the first quarter of 2026—a explosive 169.64% increase year-on-year.

​The global identifier for the transaction was tracked under the unique Legal Entity Identifier (LEI) 0292003626J3K6UG9D04. Corporate governance for the operation continues to be overseen by the board, steered by Chairman Dr. Ernest Ndukwe, alongside Chief Executive Officer Dr. Karl Olutokun Toriola, and Chief Financial Officer Modupe Kadri.