MTN Nigeria manager sells 8,000 shares in NGX transaction
MTN Nigeria’s Manager of Financial Operations, Osebi Ufot, sold 8,000 ordinary shares in the company on September 21, according to a regulatory filing. The shares were traded in Lagos at several prices, producing a weighted average of N857.36 and a total value of N6.86 million.
MTN Nigeria Communications Plc has disclosed the sale of 8,000 ordinary shares by Osebi Ufot, the company’s Manager of Financial Operations. The transaction took place on September 21, 2026, through the Nigerian Exchange Limited in Lagos, according to an official notification of share dealing filed with the exchange. The shares were sold across several price points.
The filing said 7,854 shares changed hands at N858 each, while 26 shares were sold at N857 and 120 shares at N857.10. The transactions produced a weighted average price of N857.36 per share. The total value of the divestment was N6,858,880.
The filing was issued on behalf of MTN Nigeria by Deputy Company Secretary Obafunmilayo Willoughby under the heading “Notification of Share Dealing by Insiders”. The disclosure forms part of the post-listing obligations applicable to directors and other people discharging managerial responsibilities at companies listed on the Nigerian Exchange. Those rules require relevant changes in shareholdings to be reported to the market.
The sale comes as telecom operators in Nigeria contend with inflation, foreign-exchange volatility, high energy costs and wider economic pressures that have affected corporate earnings and market valuations. The supplied filing did not give a reason for Ufot’s sale or indicate how the transaction would affect MTN Nigeria’s operations. MTN Nigeria is one of the largest companies listed on the local bourse.
The disclosure allows investors to see the change in an insider’s holding and forms part of the regulatory system intended to support transparency in the market.
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