An updated review of regulatory filings has revealed that MTN Nigeria Chief Financial Officer (CFO) Modupe Kadri increased his investment in the telecom operator more than previously reported, taking the value of his holding to $1.72 million after a three-day buying streak on the Nigerian Exchange (NGX).

Shore.Africa had reported on June 19, 2026, that Kadri had raised his stake beyond $1.5 million through fresh share purchases. A subsequent review of additional trading disclosures showed that the finance executive had also acquired shares on June 15, adding to purchases already disclosed for June 16 and June 17.

CFO expands MTN Nigeria equity position

Before buying 1,313,732 shares worth N1.03 billion ($756,000) in transactions executed on June 16 and June 17, Kadri had earlier purchased 275,309 shares on June 15 for N218.3 million ($160,000), according to a review of filings obtained by Shore.Africa. The additional purchase further increased his exposure to Nigeria’s largest telecommunications operator.

Combined, the purchases amounted to 1,589,041 shares acquired over three consecutive trading days at a total cost of N1.26 billion ($920,000). The buying activity increased Kadri’s direct holding in MTN Nigeria to 2,930,509 shares, up from the 2,655,200 shares previously reported on June 19. His stake stood at 1,341,468 shares at the end of 2025.

Based on MTN Nigeria’s current market price, Kadri’s 2,930,509-share holding is valued at N2.34 billion ($1.72 million), compared with N2.12 billion ($1.56 million) previously reported. The enlarged position places him among a select group of senior Nigerian corporate executives with multimillion-dollar investments in companies listed on the Nigerian Exchange.

Kadri’s growing stake comes as he continues to oversee the finances of Nigeria’s largest telecommunications operator. As chief financial officer, he plays a central role in capital allocation, financial planning, and shareholder value creation at the company.

From PwC to MTN Nigeria CFO success

A graduate of the University of Lagos, Modupe Kadri holds a bachelor’s degree in economics and a master’s degree in management. He began his professional career at PwC, where he qualified as a chartered accountant and spent 11 years advising clients across different sectors.

Before joining MTN Nigeria, he worked at Lafarge Africa Plc and held several positions within West African Portland Cement Plc, including financial controller and business development manager. He joined MTN Nigeria in 2007 as general manager for financial operations and later served in a number of roles within the finance division.

In August 2014, he became chief financial officer of Scancom Plc and was appointed executive director in April 2016. He remained in that role until Feb. 29, 2020, when he returned to MTN Nigeria as executive director and chief financial officer.

The recent share purchases add to Kadri’s existing exposure to the company. Alongside his executive compensation, he also received a final dividend payment of N20.1 million from his MTN Nigeria shareholding on May 5, further increasing his returns as an investor in the group.