Following the commencement of the N2.15 trillion Initial Public Offering (IPO) for Dangote Petroleum Refinery and Petrochemicals, the Securities and Exchange Commission (SEC) issued a warning advising prospective investors to guard against fraudulent schemes.
In an official notice signed by its management, the Commission confirmed approval of the public offer and advised investors to submit applications and payments solely through accredited subscription platforms, authorized receiving agents, and designated channels.
The warning coincides with heightened interest in the share sale, as millions of prospective retail investors are expected to participate in what is considered one of the largest public offerings in the history of the Nigerian capital market.
The SEC cautioned investors to obtain information regarding the offer exclusively from its official channels, the issuer’s authorized communication platforms, and other verified sources.
Additionally, the Commission advised potential subscribers to confirm the legitimacy of websites, links, and digital platforms before divulging financial or personal information.
It stressed that only organisations expressly authorised to take part in the offer are allowed to accept applications or monies from investors and cautioned investors against sending money to people or organisations claiming to facilitate subscriptions outside of the established channels.
Additionally, the regulator encouraged investors to verify that any capital market operator, bank, fintech platform, or stockbroker managing subscriptions is properly registered and approved for the offer.
Read Also: Dangote Predicts Refinery Shares Could Rise From ₦525 to ₦10,000
Backstory…
The Dangote Refinery Initial Public Offering (IPO), which opened on Monday, September 14, 2026, has drawn strong interest from both retail and institutional investors amid expectations of high market participation.
The offer, comprising 4.1 billion ordinary shares priced at N525 each, opened at 8:00am local time (0700 GMT) and is scheduled to close on October 13.
If fully subscribed, the offer is expected to raise N2.15 trillion, about $1.6 billion, though that figure could rise to roughly $2.1 billion should the offer be oversubscribed and the company opt to exercise a greenshoe option to issue additional shares.
Read Also: Dangote Refinery Kicks Off N2.15 Trn IPO, Opens Ownership to Retail Investors
