Nigeria, April 1 -- MTN Nigeria Communications Plc has vested 1.3 million ordinary shares to its key executives, according to regulatory filings by the mobile network operator.

The company vested the shares to 33 employees between 26 and 27 March as a share-based compensation strategy to reward staff.

Share vesting allows the founders or employees the right to earn shares in a company over a period of time after meeting certain conditions.

According to corporate disclosures filed by MTN Nigeria at the Nigerian Exchange, Ukpanah Uto (company secretary), Kadri Modupe (chief financial officer), Ibrahim Yahaya (chief technical officer) and Sanya Odunayo (executive director, MTN Foundation) were awarded 85,213, 187,496, 96,726 and 26,553 sh...