MTN Nigeria CFO Modupe Kadri acquires 1,589,041 shares worth ₦1.25 billion in 3days

MTN Nigeria’s Chief Financial Officer (CFO), Modupe Kadri, has acquired a combined 1,589,041 ordinary shares valued at approximately ₦1.25 billion. The shares were acquired between June 15 and 17, 2026

In a separate filing disclosed on the Nigerian Stock Exchange (NGX) dated June 16 and 18, 2026, and signed by the Company Secretary, Uto Ukpanah, the share acquisition was conducted in compliance with the Exchange’s insider dealing disclosure requirements.

For the first set of acquisitions conducted on June 15, 2026, Kadri, who currently serves as the CFO and part of the operator’s Executive Director, purchased 275,309 ordinary shares at ₦793 per share. This amounted to ₦218.9 million.

In the second set of share purchase, the CFO acquired 13 separate shares with an aggregate volume of 1,313,732 ordinary shares at N782.39. All shares were acquired between 16 and 17 June, 2026.

The shares details are as follows:

● 10,274 units @ ₦765 per share;
● 544,136 units @ ₦770 per share;
● 695units @ ₦792.20 per share;
● 12,544 units @ ₦794.50 per share;
● 20,990 units @ ₦794.70 per share;
● 97,198 units @ ₦795 per share;
● 36,370units @ ₦798 per share;
● 155,787 units @ ₦798.10 per share;
● 1,189 units @ ₦798.40 per share;
● 75,959 units @ ₦798.50 per share;
● 42,000 units @ ₦755.10 per share;
● 55,590 units @ ₦755.60 per share;
● 261,000 units @ ₦756 per share

All transactions were 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 increased in the last three months. In April, MTN Nigeria disclosed that it had 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.