MTN Nigeria Communications Plc has disclosed that its Chief Financial Officer (CFO), Ms. Modupe Kadri, acquired 275,309 ordinary shares in the company worth about N218.3 million, in a move that underscores management’s confidence in the telecommunications giant’s prospects.
The transaction was contained in a regulatory filing submitted to the Nigerian Exchange Ltd. (NGX) and signed by the company secretary, Mr. Uto Ukpanah.
According to the disclosure dated June 16, 2026, Kadri, who serves as Executive Director and CFO, purchased the shares at N793 each on June 15 in Lagos.
The acquisition, classified as an “Initial Notification” under NGX Issuers’ Rules, increased her equity interest in the company and complied with exchange requirements on insider dealings and shareholding disclosures.
Listed companies are required to disclose transactions involving directors, senior executives and other insiders to promote market transparency and strengthen investor confidence.
The latest purchase comes at a time when MTN Nigeria is posting some of its strongest financial results since listing on the NGX in 2019.
The telecoms operator reported a profit before tax of N546.42 billion for the first quarter ended March 31, 2026, representing a 169.6 per cent increase from the corresponding period of 2025.
The result ranks as the company’s second-highest quarterly pre-tax profit on record, trailing only the N569.59 billion achieved in the fourth quarter of 2025.
Revenue for the period rose 42 per cent year-on-year to N1.498 trillion, marking the highest quarterly revenue reported by the company since its market debut.
The strong performance also lifted earnings per share by 166 per cent to N16.95, reflecting improved profitability and operational efficiency.
Market analysts often view insider purchases by senior executives as a positive signal, particularly when they occur against a backdrop of strong earnings growth. Such transactions can indicate management’s confidence in a company’s strategy, future cash flows and long-term value creation.
In separate insider-trading disclosures, MTN Nigeria reported that Mr. Anthony Aigbe, an analyst in Treasury Operations, sold 2,370 ordinary shares at N867 per share on May 4, 2026. The transaction was valued at about N2.05 million.
The company also disclosed that Mr. Mubarak Adegboyega Alli, an accountant in Financial Analysis, sold 4,950 ordinary shares at N820 per share on May 14, 2026, for a total consideration of approximately N4.06 million.
MTN Nigeria’s shares are listed on the NGX under the ISIN code NGMTNN000002. The latest disclosure is expected to attract investor attention as the company continues to build on its earnings momentum and strengthen shareholder value.