MTN Spends Over ₦921 Million to Buy Shares for Its Workers

MTN Nigeria has spent more than ₦921 million to buy over 1.23 million company shares for its employees.

The shares were purchased through the company’s Employee Share Acquisition Scheme, a programme that allows workers to own part of the company they work for.

According to MTN, the shares were bought on the Nigerian Exchange on June 19, 2026, at an average price of ₦747.42 per share.

The company explained that the transaction followed all regulatory requirements and was officially reported to the Nigerian Exchange. MTN’s Company Secretary, Uto Ukpanah, said the purchase was carried out under the company’s approved employee share ownership programme.

Financial experts say when a company buys shares for its employees, it usually shows confidence in the company’s future. It also gives workers the opportunity to benefit if the company’s value continues to grow.

The latest purchase is seen as part of MTN Nigeria’s effort to encourage employee ownership and strengthen staff commitment while demonstrating confidence in the company’s long term growth.