How to Buy MTN Shares in Nigeria

How to Buy MTN Shares in Nigeria

How to Buy MTN Shares in Nigeria-MTN is one of the biggest companies in West Africa, with the business taking its largest amount of income from Nigeria. It was listed on NSE, Nigeria Stock Exchange in May 2019 and there was an immediate effect. The market cap was increased by more than 1.8 trillion naira.

It was a big announcement for people who had been looking to buy prospectively good stocks. After this, NSE was named the top performing stock exchange thanks to MTN and a few other factors. So many individuals and organizations were excited with the prospect of owning shares in MTN, but it was difficult to do so at the time of listing.

The process of buying MTN shares in 2019 when it was listed as a part of the NSE was really hectic. The telecommunications company which is the second largest, successful and valuable company in Nigeria offered a large 14% of its shares to investors.

In order to retain its power and stakeholders, 14% was the optimal amount of shares that could be listed for sale.

The shares are very valuable that 10,000 naira, equal to 24 USD at the time of this publication cannot get you as much as 0.05%. When MTN announced that it was offering 14% of its shares, the value was more than 100 trillion naira, for about 575,000 shares.

One year after and you can only buy MTN shares for a minimum of NGN3,400. How do you buy MTN Shares?

How to Buy MTN Shares in Nigeria

If you have made up your mind about buying MTN shares, it is now a little easier to purchase them. The system of purchasing stocks was very much more different years ago.

More and more Nigerians are entering the stock exchange market, so it is only natural that there are better ways of purchasing the stocks.

Instead of following the rigorous system described by MTN on their website, you can now use verified software applications to purchase stocks.

We will be recommending the best software to buy MTN shares and how you can buy the shares in the following part of this post.

Although the publishers are still working on improving user experience, the recommended app for buying MTN shares is Primary Offer.

Here are the steps to follow to buy MTN shares in Nigeria:

  • Download the Primary Offer App
  • Sign up on Primary Offer
  • Login and enter number of share units
  • Make Payment and wait for share allotment

How to Download Primary Offer App

Follow these short steps to download the primary offer app for buying MTN shares:

  • Visit the Google Play Store or iOS Store for iPhones
  • Using the search tab, type “primary offer” and search for it
  • The app will be displayed right before MTN’s app
  • Download and install the app. The app has more than 100,000 downloads and is small in size

Register an Account on Primary Offer

This is the first step you must take before you can use this app to buy shares. Launch the app and click on create an account. On the home page, there is an image and text saying “Unlock the capital markets”.

After clicking on ‘create an account’, input your BVN and date of birth. Remember that the date of birth you registered for your bank account and the one you enter here must be the same.

Your bank verification number will be kept confidential and will be used for verification purposes only. You have nothing to worry about because the BVN can be used to request and verify information but gives no access to your bank account.

Enter your BVN and date of birth and click on proceed. Follow the prompts and you will be sent an email containing an OTP. Enter the OTP to complete your account creation.

Login to Your Primary Offer Account

Before you can see the share systems and costs, login to your account using your email address and password. If you no longer have the password, click on forgotten password and enter your email address.

Click on reset password and everything will be done.

After completing sign up for the first time, there will be a “congratulation” message on your dashboard. Login and then click on the MTN Nigeria offer on your screen.

Buy MTN Shares

After clicking on MTN Nigeria offers on your dashboard, read the terms and conditions. Note that as an investor, you cannot afford to not understand what you are investing in.

It may take you some time, but try to read and understand all the terms and conditions before buying any shares.

This way, you can use the statements to your advantage. There may be changes and updates, so try to follow everything. Accept the terms and conditions and proceed to share purchase.

On your dashboard, you will be required to input your transaction details for buying the shares. Enter the number of MTN shares you want to buy. You can buy any number of share units from twenty and above.

Furthermore, you can purchase MTN shares in units of 20 and its multiples (20, 40, 60,…). You can buy as much as you can afford although you cannot exceed the number of units available for sale. The total number of shares offer to the public is 575,000,000.

One share unit costs NGN169, and with the bank charges an approximate value will be NGN 170. To buy share units, you need at least NGN3,400.

Make Payment

After inputting the number of MTN shares to purchase, click on pay now. You may need a CSCS account to make payment, although this is not necessary.

You can choose to set up a CSCS account or use other payment methods to pay for the shares. A CSCS account is a Central Securities Clearing System. It is a payment system for storing and clearing securities transactions.

Your shares are domiciled to this account. If you do not have a CSCS account, set up one and process your payment.

Follow the screen prompts for your line of action and then pay through wire transfer, USSD, or card. If you have a CSCS account, input your account number and clearing house number, called CHN. Update your bank details and complete the transaction. You can receive dividends using that account and also make payments through it.

The best payment method would be card use but you can use other options including USSD and wire transfer to make payment for your shares.

After your payment is confirmed, the details of your MTN shares will be sent to your email address. You will not receive your shares immediately. In most cases, it may take more than one week before you get your shares.

The mail you receive after payment will contain your receipt too. After the share purchase is approved by the SEC, your MTN shares will be in less than two weeks.

Other Things to Note About Buying MTN Shares in Nigeria

According to MTN Ng, here are some things to know when buying MTN shares in Nigeria:

  • In 2021, MTN offered 575 million shares equal to 14% of its company for sale to the public. This was a move made by the MTN group to reduce its shareholding in MTN Nigeria to 65% gradually.
  • The offer was also made in order to give many new investors the opportunity to own MTN shares.
  • At the time of announcement, each share costs NGN 169 and the minimum that could be purchased is 20 shares. Investors can make purchases in multiples of 20 only.
  • Investors get one free share for every share purchased, but the maximum is 250 free shares no matter the units purchased.
  • The free shares will be given to only the investors who hold their MTN shares for more than a year from the date of allotment (not payment).
  • After payment, an announcement will be made and the investor will be notified via mail of the approval of the authorities in charge.
  • Successful shareholders will be notified by the coronation registrars and sent the information of the shares allotment.
  • The CSCS account of the shareholders will be credited with the shares purchased, upon allotment. For investors who have no CSCS account, they have to apply through a stockbroker who will be credited with the shares.
  • Share purchases can be carried out on Primary Offer. The website of primary offer is and the app is also available on Google Play Store and iOS store for iPhone users.

Frequently Asked Questions

Here are frequently asked questions and answers about how to buy MTN shares in Nigeria:

Investors can purchase shares through the primary offer app by the NGX or authorized receiving agents.

The easiest way to make the purchase is through the Primary Offer app.

How much is an MTN share?

MTN offered 575 million shares to the public at NGN 169 per share.

Here are the steps to follow to buy MTN shares in Nigeria:

  • Download the Primary Offer App
  • Sign up on Primary Offer
  • Login and enter number of share units
  • Make Payment and wait for share allotment


New investors who are looking to buy stocks may get confused seeing the long procedures they have to follow to get MTN shares. This article carefully explains how to buy MTN shares in Nigeria.

References How to Buy MTN Shares MTN Shares

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