Juliet Oladele, Reporting
IN a landmark move set to redefine retail participation in Nigeria’s capital market, Moniepoint Microfinance Bank and TeamApt Ltd. have joined forces to provide millions of Nigerians with direct access to the Initial Public Offering (IPO) of Dangote Petroleum Refinery.
The collaboration, announced on 17 September 2026, allows everyday Nigerians to subscribe to the historic offering—described as the largest-ever public offering in the country—through Moniepoint’s digital banking platforms and its expansive nationwide network of Point of Sale (POS) terminals.
The offering invites citizens to own a stake in Africa’s largest petroleum refinery, a 650,000-barrel-per-day facility central to the nation’s energy future. Shares are priced at N525 each, with a minimum subscription of 10 shares and a maximum of 500 shares per transaction.
For the first time, an investment opportunity of this magnitude is being made accessible through channels that meet Nigerians where they are. Customers can now walk into any Moniepoint agent location and subscribe directly through the POS terminal, bringing the IPO within reach of communities across the country. Alternatively, digital-savvy investors can utilise the Moniepoint Personal and Business Banking apps to complete their subscription within seconds from their mobile devices.
Speaking on the initiative, the Managing Director and Chief Executive Officer of Moniepoint Microfinance Bank, Babatunde Olofin, emphasised that the move aligns with the institution’s core mission of fostering financial happiness.
“Moments like this are exactly why we built Moniepoint the way we did,” Mr. Olofin stated. “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.”
He noted that by leveraging Moniepoint’s POS network, which spans all 774 local government areas in Nigeria, the bank is helping to democratise wealth opportunities for market traders, artisans, and first-time investors.
“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 ownership of an important Nigerian asset,” he added.
Underpinning this retail reach is the technological infrastructure provided by TeamApt Ltd., a Central Bank of Nigeria (CBN)-licensed switching and processing company. Having spent over a decade building and running the payment rails behind Moniepoint and other financial institutions, TeamApt ensures that the capital-market offering reaches retail investors reliably and at scale.
Managing Director and CEO of TeamApt Ltd, Dennis Ajalie, described the collaboration as a glimpse into the future of retail participation in Nigeria.
“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,” Mr. Ajalie said.
“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. This is bigger than any single offering; it signals where retail participation in our markets is heading.”
The partnership effectively opens the door for the Nigerian Exchange (NGX) to tap into an entirely new class of investors, demonstrating how technology, financial services, and distribution can work together to expand access to opportunities across Nigeria’s financial ecosystem.
