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.
