MTN Nigeria insider sells stake through NGX

An executive at MTN Nigeria Communications Plc has recently disposed of a shareholding in the telecommunications company, executing a multi-million-naira equity divestment through the Nigerian Exchange Limited. This transaction exemplifies the ongoing practice of corporate disclosure rules imposed by capital market authorities to maintain market transparency and investor confidence in listed entities on the local bourse.

According to the exchange's official record of share dealings, Osebi Ufot, the Manager of Financial Operations at MTN Nigeria Communications Plc, sold 8,000 ordinary shares on September 21, 2026. The divestment was conducted in Lagos in several price ranges, comprising 7,854 shares at N858.00, 26 shares at N857.00, and 120 shares at N857.10, resulting in an average weighted price of N857.36 per share and a total transaction value of N6,858,880.

In a regulatory statement issued to validate the statutory insider filing on behalf of the telecommunications firm, the Deputy Company Secretary, Obafunmilayo Willoughby, affirmed, "Notification of Share Dealing by Insiders." The stock sale occurs during a critical phase for Nigeria’s telecommunications sector, as major service providers grapple with macroeconomic challenges, high energy costs, inflation, and foreign exchange volatility that have impacted corporate earnings and stock market valuations across the board.

As the industry’s largest mobile network operator and one of the most capitalized equities on the Nigerian Exchange, MTN Nigeria is subject to strict post-listing regulations that require directors and individuals in managerial positions to promptly disclose any alterations in their equity holdings.