SEC warns investors to avoid fake platforms as Dangote Refinery IPO opens Sept 15
SEC Nigeria warns investors to ignore unauthorised platforms seeking to swindle them as Dangote Petroleum Refinery's IPO opens Monday, September 15, 2026. The offer consists of 4.1 billion new ordinary shares priced at N525 each, with a minimum subscription of 10 shares costing N5,250. The IPO remains open until October 13, 2026, subject to Prospectus terms.
This is Africa's largest equity offering, expected to raise approximately N2.15 trillion to fund the refinery's long-term growth plans, operational expansion, strategic investments, and shareholder value creation. Retail, institutional, and eligible African investors can participate through approved distribution channels: NGX Invest, designated commercial banks, and authorised investment platforms.
SEC emphasises that participation has been designed to be accessible, transparent, and technology-enabled, following Temi Popoola's (NGX Group MD/CEO) guidance. Will you invest via official channels to avoid fraud, or risk your money on unauthorised platforms while missing this historic opportunity to own stakes in Africa's largest refinery?