Dangote Refinery has approved 32 banks, fintechs, mobile operators and NGX Invest for its public share offer at ₦525 per share.
Dangote Petroleum Refinery and Petrochemicals FZE has approved 32 banks, fintechs, mobile operators and other platforms through which investors can subscribe for its shares when the public offer opens.
The company published the list on its official IPO website, warning investors to subscribe only through channels listed on the platform.
The approved channels comprise 19 banks, 10 fintech companies, two mobile operators and NGX Invest.
“Only subscribe through the channels listed on this page. Do not subscribe through any channel not confirmed here,” the company said.
The Full List of Approved Channels
Banks
- Access Bank
- Ecobank
- FCMB
- Fidelity Bank
- FirstBank
- Globus Bank
- GTCO
- Jaiz Bank
- Keystone Bank
- Lotus Bank
- PremiumTrust Bank
- Providus Bank
- Stanbic IBTC
- Sterling Bank
- TAJ Bank
- UBA
- Union Bank
- Wema Bank
- Zenith Bank
Fintechs
- Bamboo
- Flutterwave
- InvestNaija
- Ladder
- Moniepoint
- Paga
- Payaza
- PiggyVest
- Vetiva Invest
- we.yan
Mobile Operators
- Airtel SmartCash
- MTN MoMo
Capital Market
- NGX Invest
Pricing and Minimum Investment
The refinery’s website currently lists the offer price at ₦525 per share, with a minimum subscription of 10 shares, valued at ₦5,250.
The public offer is part of Dangote Refinery’s plan to raise capital from the Nigerian investing public through the sale of ordinary shares.
What This Means for Investors.
The inclusion of consumer fintechs like PiggyVest, Moniepoint and Bamboo alongside traditional banks signals an effort to reach younger, tech-savvy investors who have driven strong participation in recent Nigerian IPOs, extending well beyond the customer base of conventional stockbrokers.
The refinery’s IPO portal has also cautioned that the low entry point should not be read as risk-free: like any listed security, the value of shares can rise or fall, and investors may not recover the full amount invested. Given the volume of unofficial lists circulating online since the offer was announced, the company’s repeated warning to use only the channels on its official portal is aimed at protecting prospective investors from fraudulent platforms claiming to offer access to the IPO.
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