MTN Nigeria's Osebi Ufot Divests 8,000 Shares in 2026

Osebi Ufot, the Manager of Financial Operations at MTN Nigeria Communications Plc, executed a sale of 8,000 ordinary shares on September 21, 2026, through the Nigerian Exchange Limited, amounting to a total value of N6,858,880. The shares were sold in Lagos at various price points: 7,854 shares at N858.00, 26 shares at N857.00, and 120 shares at N857.10, resulting in a weighted average price of N857.36 per share.

This transaction underscores the enforcement of corporate disclosure rules by capital market regulators aimed at maintaining market transparency and investor confidence. Obafunmilayo Willoughby, the Deputy Company Secretary, confirmed the insider filing with a regulatory statement titled "Notification of Share Dealing by Insiders." The sale occurs during a challenging period for Nigeria's telecommunications industry, characterized by macroeconomic pressures, high energy costs, inflation, and foreign exchange volatility affecting corporate earnings and stock valuations.