Moniepoint, TeamApt Open Dangote Refinery IPO to Retail Investors 

Nume Ekeghe

Moniepoint Microfinance Bank and TeamApt Limited. have expanded access to the Initial Public Offering (IPO) of Dangote Petroleum Refinery, allowing Nigerians to subscribe through Moniepoint’s mobile banking platforms and its nationwide network of Point-of-Sale (POS) terminals.

The partnership provides another channel for retail investors to participate in what is Nigeria’s largest-ever public offering, with shares of Dangote Petroleum Refinery priced at n525 each.

The offer allows eligible investors to subscribe for a minimum of 10 shares and a maximum of 500 shares per transaction.

Babatunde Olofin, Managing Director & Chief Executive Officer, Moniepoint Microfinance Bank, said the initiative was consistent with the company’s broader focus on widening access to financial opportunities.

He said, “Moments like this are exactly why we built Moniepoint the way we did. We have always believed that financial happiness is about more than the ability to transact. It is also about having access to opportunities to grow and build wealth. The Dangote Petroleum Refinery IPO gives Nigerians a chance to participate in the growth of a significant Nigerian business. By making it accessible through our POS network particularly, we are helping democratize wealth opportunities, reaching everyday people – market traders, artisans, and first-time investors wherever they are.”

On his part, Managing Director & Chief Executive Officer, TeamApt Limited, Dennis Ajalie added, “For years, we have been building the rails that quietly power finance across Nigeria, and this is a glimpse of what those rails were built for. Our technology is connecting a major capital-markets opportunity to a distribution network that reaches millions, making it possible for retail participation to happen through channels that are already part of everyday life.”