MTN Nigeria Communications Plc has announced that its employee share acquisition scheme has purchased more than 1.23 million ordinary shares of the company from the Nigerian Exchange Limited (NGX). The transaction, worth about N921.8 million, is part of the company’s effort to increase employee ownership and strengthen their connection to the organisation’s long-term success.
According to a regulatory filing submitted to the Nigerian Exchange, the shares were bought through MTN Nigeria’s Employee Share Acquisition Scheme, which is recognised as a related party under market regulations. The company explained that the disclosure was made to comply with insider trading and transparency rules that require listed companies to report such transactions.
Company Secretary, Uto Ukpanah, said the filing was a standard regulatory requirement and confirmed that the purchase was carried out under MTN Nigeria’s approved employee share ownership programme.
He explained that the transaction serves as official notification to the market and regulators that the employee share scheme successfully acquired ordinary shares on behalf of eligible staff members. The programme is designed to give employees a direct financial stake in the company’s future performance while encouraging long-term commitment and value creation.
The shares were purchased through five separate trading tranches during a single trading session on June 19, 2026, in Lagos. The staggered buying approach allowed the company to take advantage of different market prices and available liquidity during trading.
The first tranche involved the purchase of 400,000 shares at N734.16 per share. The second tranche added 10,400 shares at N748.83 per share, while the third consisted of 301 shares at N753.37 per share. The fourth tranche included 49,271 shares purchased at N753.76 per share.
The largest purchase came in the fifth and final tranche, where 773,327 shares were acquired at N753.86 per share. Altogether, the employee share scheme bought 1,233,299 ordinary shares at a volume-weighted average price of N747.42 per share, bringing the total value of the transaction to approximately N921.8 million.
Financial market analysts say large purchases of company shares by employee schemes often send a positive signal to investors. Such transactions usually indicate that the company has confidence in its future growth and wants employees to benefit directly from its financial performance.
By allowing workers to own shares, companies also encourage stronger employee commitment because staff become shareholders who can benefit from increases in the company’s value over time.
The regulatory filing also stated that the transaction was recorded under MTN Nigeria’s global Legal Entity Identifier (LEI), ensuring that the purchase is properly recognised in international financial reporting systems.
MTN Nigeria added that its Board of Directors, led by Chairman Dr. Ernest Ndukwe, alongside Chief Executive Officer Dr. Karl Toriola and Chief Financial Officer Modupe Kadri, continues to oversee governance and business strategies aimed at delivering sustainable growth and long-term value for shareholders.
The latest share purchase reflects MTN Nigeria’s continued focus on employee participation, strong corporate governance, and creating lasting value for both its workforce and investors.
