Nigeria TV Info 

MTN Nigeria Announces New Pay Package for Chairman, Directors After Employees Earn ₦2.4m Monthly

MTN Nigeria shareholders have approved a fresh remuneration package for the company’s chairman and non-executive directors during the telecom giant’s 2026 Annual General Meeting (AGM).

Under the newly approved structure, Chairman Ernest Ndukwe will receive ₦167.98 million for the 2026 financial year, while each non-executive director will earn ₦108.37 million. The payments will be made quarterly and adjusted annually to reflect inflation trends.

The development comes after reports revealed that MTN Nigeria nearly doubled the number of workers earning at least ₦2.4 million monthly in 2025, reflecting the company’s expanding wage structure amid rising inflation and increasing operational costs in Nigeria.

Shareholders also approved the structural separation of MTN Nigeria’s fintech arm, paving the way for the proposed sale of a 60% stake in subsidiaries including MoMo Payment Service Bank and Y’ello Digital Financial Services to MTN Group. The transaction is estimated at ₦152.06 billion, while MTN Nigeria will retain a 40% stake in the fintech business.

At the AGM, several board members were also re-elected, including Ifueko M. Omoigui Okauru, Jens Schulte-Bockum, Tsholofelo Molefe, and Muhammad K. Ahmad.

Industry analysts say the new compensation package highlights MTN Nigeria’s strong financial position and its continued push to expand digital and fintech operations across the country despite economic challenges.