MTN Nigeria Communications Plc has disclosed a significant insider equity transaction, with its corporate employee share acquisition vehicle mopping up over 1.23 million ordinary shares from the floor of the Nigerian Exchange Limited.

The transaction, valued at approximately N921.8m, was executed across multiple trading tranches, underlining a concerted institutional effort to deepen employee asset ownership and align staff interests with broader corporate financial goals.

In an official notification of share dealing by insiders filed with the Exchange, the telecommunications giant revealed that the volume accumulation was completed in a single trading window.

Commenting on the regulatory disclosure, the Company Secretary of MTN Nigeria, Uto Ukpanah, confirmed that the purchase represents a structured layout under the group’s public operational guidelines.

Ukpanah said, “The notification of share dealing by insiders is a regulatory compliance prerequisite. 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.”

A granular breakdown of the pricing metrics attached to the corporate filing showed that the acquisition was structured across five distinct tranches to navigate prevailing market liquidity and maximise price entry points.

The filing noted, “The transaction details across the multi-tranche execution reveal that Tranche 1 accounted for 400,000 shares priced at N734.16 per share, while Tranche 2 took up 10,400 shares at N748.83 per share.

“This was followed by a minor third tranche of 301 shares at N753.37 per share, Tranche 4 consisting of 49,271 shares at N753.76 per share, and a massive final Tranche 5, which mopped up 773,327 shares at N753.86 per share.”

On an aggregate basis, the employee scheme acquired a total volume of 1,233,299 ordinary shares at a volume-weighted average price of N747.42 per share, all executed in Lagos on 19 June 2026.

Market analysts noted that large-scale insider purchases by employee schemes typically provide strong psychological support for public equities on the NGX, as they signal internal confidence in the company’s long-term commercial balance sheet and revenue sustainability.

The notification stated, “The transactions were carried out under the unique Legal Entity Identifier 0292003626J3K6UG9D04, which identifies MTN Nigeria Communications Plc globally in financial operations.”

It added, “The board, led by the Chairman, Dr E. Ndukwe, alongside the Chief Executive Officer, Dr Olutokun Toriola, and the Chief Financial Officer, Mr Kadri, continues to oversee strategic governance frameworks that position the multinational for sustainable value delivery.”