Market Analysis
Approved BanksThe following 19 banks are listed as preferred approved channels for the Dangote Refinery IPO:
1. Access Bank
2. Ecobank
3. FCMB
4. Fidelity Bank
5. FirstBank
6. Globus Bank
7. GTCO
8. Jaiz Bank
9. Keystone Bank
10. Lotus Bank
11. PremiumTrust Bank
12. Providus Bank
13. Stanbic IBTC
14. Sterling Bank
15. TAJ Bank
16. UBA
17. Union Bank
18. Wema Bank
19. Zenith Bank
Approved Fintechs
Investors can also subscribe through these 10 approved fintech and digital investment platforms:
1. Bamboo
2. Flutterwave
3. InvestNaija
4. Ladder
5. Moniepoint
6. Paga
7. Payaza
8. PiggyVest
9. Vetiva Invest
10. we.yan
Approved Mobile-Money Operators
The approved mobile-money channels currently include:
1. Airtel SmartCash
2. MTN MoMo
Other Approved Channel
- NGX Invest
Issuing Houses
The IPO is being handled by the following capital-market professionals:
- Vetiva Advisory Services Limited — Lead Issuing House/Lead Adviser
- Stanbic IBTC Capital Limited — Issuing House
- FirstCap Limited — Issuing House
What Investors Need to Know
Offer Price
The Dangote Refinery IPO is priced at ₦525 per share.
Minimum Subscription
The minimum subscription is 10 shares, meaning an investor can start with:
10 × ₦525 = ₦5,250
Investors can apply for more shares, subject to the terms of the offer.
Use Only Approved Channels
Investors should subscribe only through the officially approved banks, fintechs, mobile-money operators or NGX Invest listed above.
Do not transfer money to individuals or unofficial agents claiming they can secure Dangote Refinery shares for you.
Protect Your Banking Information
Never give anyone your:
- OTP
- ATM PIN
- Bank PIN
- Internet-banking password
- Investment-platform password
An individual asking for these details in connection with the IPO should be treated with caution.
Application Does Not Automatically Mean Full Allotment
Submitting an application does not necessarily mean that an investor will receive the exact number of shares requested. Investors should await the official allotment process and confirmation.
Do Your Own Research
An IPO is an investment and returns are not guaranteed. Before subscribing, investors should read the official offer documents, understand the risks and consider whether the investment is suitable for their financial situation.
Final Takeaway
The Dangote Refinery IPO is accessible through a broad network of 19 banks, 10 fintechs, 2 mobile-money operators and NGX Invest.
If you intend to participate, verify the channel before making payment and use only official subscription platforms.
Invest Smart. Invest Safely.
