Modupe Kadri, the Chief Financial Officer of MTN Nigeria Communications Plc, has acquired 275,309 ordinary shares in the company, a transaction valued at approximately N218.3 million.

The acquisition, disclosed in a regulatory filing dated June 16, 2026, and signed by Company Secretary Uto Ukpanah, was executed on June 15, 2026, in Lagos. The shares were purchased at N793 per share.

This purchase increases Kadri's stake in MTN Nigeria and is seen as a strong indicator of management's confidence in the company's future prospects. The transaction was classified as an “Initial Notification” under the Nigerian Exchange Limited (NGX) Issuers’ Rules, adhering to insider dealing disclosure requirements.

In parallel, MTN Group President and CEO, Ralph Mupita, has voiced concerns regarding potential backlash against pan-African businesses stemming from xenophobic sentiments in South Africa. Mupita cautioned that such actions could negatively impact youth employment and digital transformation across the continent.

Mupita highlighted that MTN generates over 80% of its earnings outside South Africa, underscoring the company's significant presence across various African markets. He urged for constructive engagement to address migration and unemployment challenges rather than economic isolation.

MTN Nigeria's financial performance remains robust. For the first quarter ended March 31, 2026, the company reported a pre-tax profit of N546.42 billion, a substantial 169.64% increase compared to the same period in 2025. Revenue for the quarter surged by 42% year-on-year to N1.498 trillion.

The company's share price closed at N800 on June 18, 2026. Over the past three months, the stock has seen a 5.26% growth, rising from N758 on March 18. Its six-month performance shows a 50.46% increase from N531.70 on December 18, 2025.

In other disclosures, MTN Nigeria reported that Anthony Aigbe, an Analyst in Treasury Operations, sold 2,370 ordinary shares at N867 per share for approximately N2.05 million on May 4, 2026. Additionally, Mubarak Adegboyega Alli, an Accountant in Financial Analysis, sold 4,950 ordinary shares at N820 per share, totaling about N4.06 million on May 14, 2026.