Modupe Kadri, Chief Financial Officer of MTN Nigeria, has strengthened his stake in the telecommunications giant after acquiring 275,309 ordinary shares valued at about N218.3 million in an insider transaction.
The share purchase was disclosed in a regulatory filing dated June 16, 2026, and signed by the Company’s Secretary, Uto Ukpanah.
According to the filing submitted to the Nigerian Exchange Limited (NGX), Kadri, who serves as Executive Director and Chief Financial Officer, purchased the shares at N793 each on June 15, 2026, in Lagos. The transaction was classified as an “Initial Notification” in line with NGX insider dealing disclosure requirements.
The acquisition is widely seen as a vote of confidence in the company’s future prospects by a top executive at a time when MTN Nigeria continues to post strong financial results and sustain investor interest.
Under NGX rules, listed companies are required to disclose transactions involving directors, senior executives and other insiders to enhance transparency and promote investor confidence in the capital market.
MTN Nigeria’s shares closed at N800 on Wednesday, reflecting sustained investor confidence in the telecom operator.
The stock has gained 5.26 per cent over the past three months, rising from N758 recorded on March 18, and has appreciated by 50.46 per cent in the last six months from N531.70 recorded on December 18, 2025.
Kadri’s latest purchase comes barely two months after he benefited from an employee share allocation programme. In April, MTN Nigeria disclosed the transfer of 3,771,677 ordinary shares to 106 employees, with Kadri receiving 382,491 shares.
With the latest acquisition, his holdings in the company have increased by a total of 657,800 shares within three months.
The company also disclosed separate insider transactions involving two members of staff.
Anthony Aigbe, an analyst in Treasury Operations, sold 2,370 ordinary shares at N867 per share in a transaction valued at approximately N2.05 million.
Similarly, Mubarak Adegboyega Alli, an accountant in Financial Analysis, disposed of 4,950 ordinary shares at N820 each, with the transaction valued at about N4.06 million.
The insider purchase comes against the backdrop of MTN Nigeria’s impressive first-quarter performance.
For the quarter ended March 31, 2026, the company reported a pre-tax profit of N546.42 billion, representing a remarkable 169.64 per cent increase compared to the corresponding period of 2025.
