MTN Nigeria’s Chief Financial Officer (CFO), Modupe Kadri, has acquired 275,309 ordinary shares valued at about ₦218.9 million.
In a filing disclosed on the Nigerian Stock Exchange (NGX) dated June 16, 2026, and signed by the Company Secretary, Uto Ukpanah, the share acquisition was conducted in compliance with the Exchange’s insider dealing disclosure requirements.
Kadri, who currently serves as the CFO and is part of the operator’s Executive Director, purchased 275,309 ordinary shares at ₦793 per share.
The transaction, which was conducted on June 15, 2026, in Lagos, was tagged as insider dealing and an initial notification based on NGX rules.
According to the NGX regulations, listed companies are to disclose transactions involving company shares by directors and key stakeholders to strengthen investor confidence and promote transparency.
Kadri’s share purchase of MTN shares demonstrates confidence in the company’s shares and protected financial performance.
This development means that the CFO’s share in the company has now increased by 657,800 units in the last three months. In April, MTN Nigeria disclosed that it has finalised the transfer of 3,771,677 ordinary shares to 106 of its employees, with Kadri receiving 382,491 units.
The latest insider purchase is expected to serve as a positive signal regarding the company’s outlook and future performance.
Also Read: Is MTN Nigeria undervalued? Is 95 million subscribers and profit boom priced into stock value?
MTN Nigeria share performance
The insider share purchase comes amid a strong financial performance by the leading telecoms company, accompanied by the recent surge in share price.
In the space of one year, MTN Nigeria’s share price increased from the ₦200 range into the ₦700 and ₦800 range.
Following the MTN-IHS Tower merger announcement in February, the company’s share price started trading around the ₦755 range. Following an historic financial performance in Q1 2026, the trading price increased to the ₦780 to ₦790 range.
Recall that in its unaudited financial results for the first quarter ended March 31, 2026, MTN Nigeria reported a pre-tax profit of ₦546.42 billion, representing a 169.64% year-on-year (YoY) surge.
Also, total revenue for the quarter rose by 42% YoY to ₦1.498 trillion, the highest quarterly revenue reported by the company since 2019.
The financial performance also bolstered its earnings per share, which increased by 166% to ₦16.95. MTN Nigeria share price closed at ₦800 on Thursday, June 18, 2026.
Other disclosures
In another separate disclosure, the company disclosed that Anthony Aigbe, an Analyst in Treasury Operations, sold 2,370 ordinary shares at ₦867 per share. The transaction, executed on May 4, 2026, was valued at nearly ₦2.05 million.
Also, MTN Nigeria disclosed that Mubarak Adegboyega Alli, an Accountant in Financial Analysis, sold 4,950 ordinary shares at ₦820 per share.
The sale, which took place on May 14, 2026, recorded a total value of about ₦4.06 million.
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