Moniepoint Microfinance Bank and TeamApt Limited have partnered to expand retail access to the Dangote Petroleum Refinery Initial Public Offering (IPO), allowing Nigerians to subscribe through Moniepoint’s digital banking platforms and nationwide POS network.
The offering gives retail investors an opportunity to buy shares in the 650,000-barrel-per-day Dangote Refinery, described as Africa’s largest petroleum refinery, at ₦525 per share.
Investors can subscribe for a minimum of 10 shares and a maximum of 500 shares per transaction.
The partnership is designed to extend access to the capital market beyond traditional financial centres and make the IPO available to more Nigerians.
How to subscribe
Customers can subscribe through Moniepoint agent locations using POS terminals across the country.
Those who prefer digital channels can complete their subscriptions through the Moniepoint Personal and Business Banking apps.
Moniepoint MFB and TeamApt, both subsidiaries of the Moniepoint Group, are providing complementary services for the offering.
Moniepoint MFB is providing customer reach through its distribution network, while TeamApt is supplying the technology infrastructure for processing transactions.
The bank said its POS network spans all 774 local government areas in Nigeria, giving investors access to financial services across the country.
What Moniepoint said
Managing Director and Chief Executive Officer of Moniepoint Microfinance Bank, Babatunde Olofin, said the partnership was aimed at widening access to investment opportunities.
Chief Executive Officer of TeamApt, Dennis Ajalie, said the technology infrastructure would enable the capital-market offering to reach retail investors reliably and at scale.
The partnership positions Moniepoint’s physical and digital channels as additional access points for Nigerians seeking to participate in the Dangote Refinery IPO.
