MTN Nigeria insider sells stake through NGX

NGX trading floor. Photo: NGX

An insider at MTN Nigeria Communications Plc has offloaded a portion of their equity holding in the telecom giant, executing a multi-million-naira share divestment through the floor of the Nigerian Exchange Limited.

The transaction underscores the continuous enforcement of corporate disclosure rules mandated by capital market regulators to preserve market transparency and investor confidence across listed firms on the local bourse.

According to an official notification of share dealing filed with the exchange, the Manager of Financial Operations at MTN Nigeria Communications Plc, Osebi Ufot, sold an aggregate of 8,000 ordinary shares on September 21, 2026.

The divestment was carried out in Lagos across multiple price tranches, “including 7,854 shares at N858.00, 26 shares at N857.00, and 120 shares at N857.10, yielding an aggregated weighted average price of N857.36 per share and bringing the total transaction value to N6,858,880.”

In a regulatory statement issued to confirm the statutory insider filing on behalf of the telecommunications operator, the Deputy Company Secretary, Obafunmilayo Willoughby, stated, “Notification of Share Dealing by Insiders.”

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The stock sale comes at a pivotal period for Nigeria’s telecommunications industry, as major service providers continue to navigate macroeconomic headwinds, high energy costs, inflationary pressures, and foreign exchange volatility that have reshaped corporate earnings and stock market valuations across the board.

As the largest mobile network operator and one of the most capitalised equities on the Nigerian Exchange, MTN Nigeria remains strictly bound by post-listing rules that compel directors and persons discharging managerial responsibilities to immediately report changes in their equity portfolios.