MTN Nigeria's employee share scheme acquires over 1.23 million shares

The transaction, valued at approximately N921.8 million, was executed across multiple trading tranches on June 19, 2026. This move aims to deepen employee asset ownership and align staff interests with corporate financial goals. Uto Ukpanah, Company Secretary of MTN Nigeria, confirmed that the purchase is a structured layout under the group’s public operational guidelines and involves the MTNN Employee Share Acquisition scheme, a related party to the issuer.

The acquisition was structured across five distinct tranches to navigate market liquidity and maximize price entry points, with a volume-weighted average price of N747.42 per share. Market analysts suggest that such large-scale insider purchases by employee schemes typically provide strong psychological support for public equities, signaling internal confidence in the company’s long-term commercial balance sheet and revenue sustainability. The transactions were carried out under the Legal Entity Identifier 0292003626J3K6UG9D04.