The Chief Financial Officer of MTN Nigeria Communications Plc, Modupe Kadri, has purchased 275,309 ordinary shares valued at approximately N218.3 million.

The transaction was disclosed in a regulatory filing dated June 16, 2026, and signed by the Company Secretary, Uto Ukpanah.

According to the filing submitted to the Nigerian Exchange Limited (NGX), the share acquisition was carried out in compliance with the Exchange’s insider dealing disclosure requirements.

What they are saying

MTN Nigeria disclosed that Kadri, who serves as Executive Director and Chief Financial Officer, purchased 275,309 ordinary shares at a price of N793 per share.

Other News

The transaction was executed on June 15, 2026, in Lagos and was classified as an “Initial Notification” under the NGX Issuers’ Rules.

  • Based on the disclosed price, the total value of the acquisition amounted to N218.32 million.
  • The purchase increases Kadri’s interest in the company and is viewed as a demonstration of confidence in the business by a senior member of management.
  • Under NGX regulations, listed companies are required to promptly disclose transactions involving company shares by directors, key management personnel, and their connected persons to promote transparency and strengthen investor confidence.

MTN Nigeria’s shares are listed on the Nigerian Exchange under the ISIN code NGMTNN000002.

More insights

In a separate disclosure, MTN Nigeria reported that Anthony Aigbe, an Analyst in Treasury Operations, sold 2,370 ordinary shares at N867 per share.

  • The transaction, executed on May 4, 2026, was valued at approximately N2.05 million.
  • The company also disclosed that Mubarak Adegboyega Alli, an Accountant in Financial Analysis, sold 4,950 ordinary shares at N820 per share.

The sale, which took place on May 14, 2026, had a total value of about N4.06 million.

What you should know

The insider share purchase comes amid a strong financial performance by the telecommunications giant.

  • In its unaudited financial results for the first quarter ended March 31, 2026, MTN Nigeria reported a pre-tax profit of N546.42 billion, representing a 169.64% increase compared with the corresponding period in 2025.
  • The result marked the company’s second-highest quarterly pre-tax profit since its listing in 2019 and was only 4% below the record N569.59 billion achieved in the fourth quarter of 2025.
  • Revenue for the quarter rose by 42% year-on-year to N1.498 trillion, the highest quarterly revenue reported by the company since 2019.

The strong earnings performance also boosted earnings per share, which increased by 166% to N16.95, representing nearly 30% of the company’s full-year earnings per share for 2025.

The latest insider purchase is likely to be viewed by investors as a positive signal regarding management’s outlook for the company’s future performance.