Nigeria, April 26 -- MTN Nigeria has vested 536,327 shares in 31 more employees, according to regulatory filings at the Nigerian Exchange, continuing an earlier move this year that aimed at compensating staff members.

The filings show that the telco vested the shares in the employees between 26 March and 4 April.

Share vesting, an incentive-based scheme, allows the staff members of a company to be awarded its shares over a period of time provided they meet some specified conditions.

The new round of share vesting by MTN Nigeria continues an earlier disclosure in March when the mobile network operator announced that it had gifted 1.3 million shares to 33 key executives.

The employees rewarded at the time included the company secretary,...