80% of MTN Nigeria employees earn over a million a month from MTN

80% of MTN Nigeria employees earn over a million a month from MTN.

They also all get MTN NG and MTN group shares under three different employee share plans, with annual, 3-year, and 5-year durations.

At the end of the 5 years of vesting of the shares, the staff can choose to hold the two shares or sell them on the open market.

MTN Nigeria has 1,824 staff. 80% of these people working for MTN Nigeria are millionaires by virtue of what they earn every month.

The CEO of MTN Nigeria, Karl Toriola, whose picture is attached below, is a billionaire as he earns over 134 million naira every month as his own salary. 1.6 billion annual salary in a year

Working for MTN has transformed the life of this Osun state-born prince from Ile Ife, and working for MTN has made him a billionaire as well.

In addition to his executive and governance roles, Toriola also holds a minority stake in MTN Nigeria with shares of 0.0201 percent in MTN Nigeria, totaling 4,086,858 ordinary shares, placing him among the top shareholders with a current value of nearly $1.34 million.

Karl’s only child, and his daughter, Damilola Toriola, is also a shareholder of MTN Nigeria by virtue of his dad’s position, and her shares in the company are currently worth N15.8 million.

It is important we share these stories so next time a motivational speaker tries to discredit hardworking 9-5s by undermining the hard work that they do, with this false narrative that you can’t be rich working on another person’s dream, inform the ignorant motivational speaker that 9-5 is one of the fastest vehicles to build wealth in Nigeria.

Many examples abound.

© Chukwudi Iwuchukwu

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