Moniepoint Begins Sale of Dangote Refinery’s Shares Via POS Agents Nationwide
- Moniepoint agents now enable Nigerians nationwide to subscribe to Dangote Refinery’s IPO beyond traditional banks and brokerage platforms
- Investors can buy Dangote Refinery shares at N525 each, starting with a minimum subscription of N5,250
- TeamApt’s payment infrastructure supports Moniepoint’s 774-LGA network, widening retail access to Nigeria’s landmark refinery IPO
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerians looking to own a stake in Dangote Petroleum Refinery now have another route to participate in the company’s initial public offering (IPO), as Moniepoint Microfinance Bank opens subscriptions through its nationwide network of POS agents.
The initiative means prospective retail investors can subscribe for Dangote Refinery shares through participating Moniepoint agent locations instead of relying solely on traditional banks and brokerage platforms.
Source: Facebook
Moniepoint said customers can also access the offer through its Personal and Business Banking applications, significantly expanding the channels available to Nigerians interested in the IPO.
Investors can start with N5,250
Dangote Refinery shares are being offered at N525 each, with a minimum subscription of 10 shares.
That puts the minimum amount required to participate at N5,250.
Under the Moniepoint arrangement, investors can subscribe for up to 500 shares per transaction, equivalent to N262,500 at the offer price.
The initiative could be particularly significant for prospective investors outside Nigeria’s major financial centres, according to a Punch report.
Moniepoint said its POS network reaches all 774 local government areas, potentially bringing access to the share offer closer to millions of Nigerians who already use agents for everyday financial transactions.
“Moments like this are exactly why we built Moniepoint the way we did,” Managing Director and Chief Executive Officer of Moniepoint Microfinance Bank, Babatunde Olofin, said.
“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.”
TeamApt provides transaction infrastructure
The initiative combines Moniepoint’s extensive distribution network with the payments infrastructure provided by TeamApt Ltd.
TeamApt, a Central Bank of Nigeria-licensed switching and processing company, provides payment infrastructure used by banks and other financial institutions.
“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,” TeamApt Managing Director and Chief Executive Officer Dennis Ajalie said.
The partnership effectively turns familiar digital banking and agent channels into additional gateways for Nigerians seeking to participate in the Dangote Refinery IPO.
Dangote IPO reaches more retail investors
The development comes as Nigeria’s capital market pushes to broaden retail participation and make investment products more accessible to ordinary investors.
Using POS agents could help reduce some of the accessibility barriers associated with conventional investment channels, particularly for Nigerians who may not regularly use brokerage platforms.
Dangote Petroleum Refinery, located in Lagos, has a stated processing capacity of 650,000 barrels of crude oil per day.
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Rewane: Dangote Refinery IPO offers Nigerians a ‘surer bet’ than gambling, football betting
The refinery, owned by Dangote Industries, began commercial operations in 2024 and has since become an important part of Nigeria’s downstream petroleum supply chain.
Source: Facebook
With Moniepoint agents now providing another subscription channel, Nigerians interested in the IPO have an additional way to access the offer from communities across the country.
Dangote Refinery shares: 32 Banks and fintechs selling
Legit.ng earlier reported that Nigerians looking to own a stake in Aliko Dangote’s landmark refinery can subscribe for shares through 32 approved banks, fintech platforms, mobile money operators and NGX Invest.
Dangote Petroleum Refinery and Petrochemicals FZE published the list on its official initial public offering (IPO) website, giving prospective investors a range of channels to access the public offer.
Source: Legit.ng
