By Boluwatife Oshadiya | September 11, 2026
Key Points
- Dangote Refinery approved 32 banks, fintechs, mobile operators and investment platforms for IPO subscriptions
- The approved channels comprise 19 banks, 10 fintech companies, two mobile operators and NGX Invest
- Investors are required to use only channels listed on the refinery’s official IPO website
Main Story
Dangote Petroleum Refinery and Petrochemicals FZE has approved 32 banks, fintech companies, mobile network operators and investment platforms to process subscriptions for its public share offer.
The company published the approved channels on its official IPO website on Thursday, ahead of the opening of the offer, and warned prospective investors against using unauthorised platforms. The approved list comprises 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,” Dangote Petroleum Refinery and Petrochemicals FZE.
The approved banks include 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 and Zenith Bank.
The approved fintech and investment platforms are Bamboo, Flutterwave, InvestNaija, Ladder, Moniepoint, Paga, Payaza, PiggyVest, Vetiva Invest and we.yan. Airtel SmartCash and MTN MoMo were approved as mobile network operator channels, while NGX Invest is also listed as an approved channel.
The official IPO website currently lists the offer price at ₦525 per share, with a minimum subscription of 10 shares, equivalent to ₦5,250. It also states that investors should not share their PIN, password or OTP with anyone.
The company has urged investors to verify subscription channels directly through its official website before making any payment or submitting an application.
What’s Being Said
“Only subscribe through the channels listed on this page. Do not subscribe through any channel not confirmed here,” Dangote Petroleum Refinery and Petrochemicals FZE.
The official IPO platform also warns that confirmation of a subscription does not constitute allotment and advises investors to read the prospectus and consult their issuing house, stockbrokers or financial advisers where necessary.
What’s Next
- Investors are expected to use only the 32 approved channels when the public offer opens
- The official IPO platform currently lists the offer price at ₦525 per share and the minimum subscription at 10 shares
- The company says investors should monitor its official IPO website for confirmed offer dates and further subscription instructions
Bottom Line
The approval of 32 subscription channels widens the distribution network for Dangote Refinery’s landmark public offer while putting greater emphasis on investor protection. For prospective investors, verifying the authorised channel before making a payment is now as important as understanding the price, minimum subscription and terms of the offer.
