Michael-Nwadu Omolara, CFO of MTN’s MoMo PSB, Vested 49,067 MTN Shares

Michael-Nwadu Omolara, Chief Financial Officer of MTN’s MoMo Payment Service Bank, has been vested 49,067 shares in MTN Nigeria Communications Plc—an internal transaction that, while involving no direct cash outlay, quietly affirms the telco’s ongoing pivot toward financial services. This is in line with the the company’s executive compensation scheme.

The share grant took place on March 27, 2025, but it was not made public until April 24, when MTN Nigeria submitted a formal disclosure to the Nigerian Exchange. Although this falls within regulatory limits, a delay in disclosing insider transactions can draw attention, especially in an era of heightened investor sensitivity to governance and transparency.

What Does Vesting Mean?

This wasn’t a stock purchase. It was a vesting—a process where executives receive shares that were previously promised, typically tied to performance or length of service. The recipient—in this case, Omolara—did not pay for the shares. Instead, they represent a deferred reward for staying in the role and contributing to corporate goals.

Why It Matters

Omolara is a central figure in MTN’s financial services strategy. As CFO of MoMo PSB—the mobile money subsidiary helping MTN deepen financial inclusion in Nigeria—her work shapes the company’s fintech narrative. MoMo’s operations have grown rapidly since gaining a Payment Service Bank licence in 2022, pushing into rural markets and competing directly with both banks and fintechs.

Executive equity awards like these are not uncommon in large firms, but they can provide a window into internal alignment. Vesting shows that the company is looking to retain key talent during a critical phase of expansion. It also signals that senior leadership sees potential upside in the business—and wants its top people to share in it.

What the Filing Reveals

The notice, signed by Deputy Company Secretary Obafunmilayo Willoughby, confirmed the award of 49,067 ordinary shares, assigned a price of “nil.” That’s standard for vesting, but the real value will emerge if MTN’s share price climbs—tying Omolara’s long-term gain to the company’s performance.

There was no accompanying statement from MTN or Omolara herself, which is typical for such disclosures. But in a sector as competitive and fast-evolving as mobile finance, even modest internal transactions can be read as subtle expressions of confidence.

Vested shares don’t make headlines in the way insider buys or sells do. But they’re part of a bigger picture. As MTN tries to grow beyond telecoms into a fully integrated digital finance player, decisions about who gets equity—and when—are worth paying attention to.

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