UBA named authorised institution for Dangote Refinery IPO

United Bank for Africa UBA Plc has joined the financial institutions authorised to facilitate subscriptions for the proposed Dangote Refinery Initial Public Offering IPO.

The approval allows eligible UBA customers and other investors to participate in the public offer for shares in Dangote Petroleum Refinery and Petrochemicals FZE.

The offer consists of 4.1 billion ordinary shares at N525 per share. Investors can subscribe for a minimum of 10 shares, valued at N5,250. They can also apply for additional shares under the offer terms.

The public offer opened on Monday, September 14, 2026. It will close on October 13, 2026, subject to the terms outlined in the offer documents.

UBA speaks on Dangote Refinery IPO

UBA Executive Director Designate, Tosin Adewuyi, said the bank’s participation would expand access to Nigeria’s capital market.

Adewuyi urged eligible investors to study the prospectus and other offer documents before making investment decisions.

He said the offer gives investors an opportunity to own shares in a major Nigerian industrial company. He also stressed the importance of understanding the terms and risks involved.

Eligible investors can subscribe through UBA’s approved channels and follow the required procedures.

Investors urged to verify their details

UBA advised investors to update their personal and banking information before submitting applications.

The bank specifically urged customers to ensure that their Bank Verification Number BVN details remain accurate.

Investors can access the offer through UBA’s designated subscription channels.

The bank also advised investors to read the prospectus and other offer documents carefully. Where necessary, investors should seek professional financial advice before subscribing.

Investments in shares carry risks. Their value can rise or fall depending on market conditions.

UBA warns against fraud

UBA urged investors to use only approved channels when subscribing for the Dangote Refinery shares.

The bank also warned the public to remain vigilant against fraudulent investment schemes.

Investors should never disclose sensitive banking information, including their PIN, password or one-time password OTP.

They should also avoid paying money into personal accounts in connection with the share offer.