MTN Nigeria Communications Plc has notified the Nigerian Exchange Limited (NGX) of a fresh insider share purchase by one of its Non-Executive Directors, Andrew Alli, signalling continued board-level confidence in the company’s long-term prospects.
According to the disclosure filed on 5 December 2025 and signed by Company Secretary Uto Ukpanah, Alli purchased 93,220 units of MTN Nigeria ordinary shares at an average price of ₦470.60 per share on 4 December 2025. The transaction—valued at approximately ₦43.8 million was executed in Lagos and represents an initial notification under insider-dealing rules.
MTN Nigeria confirmed that the transaction complies fully with regulatory requirements, including the NGX Rulebook and the provisions of the Companies and Allied Matters Act regarding directors’ dealings in listed securities.
Signal of Confidence Amid Market Volatility
Alli, a respected investment executive and former CEO of the Africa Finance Corporation (AFC), joined MTN Nigeria’s board to strengthen corporate governance and strategic oversight. His additional personal investment in the telecoms giant comes during a period of market volatility when corporate insider buying is widely interpreted by investors as a positive signal regarding a company’s fundamentals.
Analysts note that MTN Nigeria continues to consolidate its leadership in mobile connectivity, fintech expansion and fibre infrastructure despite regulatory and macroeconomic pressures. Insider purchases—especially at board level—are often viewed as aligning leadership incentives with shareholder value creation.
Compliance and Transparency
The filing includes MTN Nigeria’s Legal Entity Identifier (LEI: 0292003626J3K6UG9D04), reinforcing the company’s adherence to global transparency standards for entities involved in financial transactions. The company said the disclosure is part of its commitment to maintaining high governance standards and timely reporting.
