The Securities and Exchange Commission (SEC) has cautioned prospective investors in the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering (IPO) against fraudulent platforms, unsolicited offers and unauthorised channels seeking to collect funds or personal information.
The Commission gave the warning in a public notice issued on Monday, September 14, 2026, following its approval for the Dangote Petroleum Refinery and Petrochemicals FZE IPO to open on the same day.
The notice, signed by SEC Management, urged investors to obtain information about the offer only through the Commission’s official channels, the issuer’s official platforms and other channels specifically approved for the IPO.
The SEC advised prospective investors to verify the authenticity of websites, platforms and links before providing personal or financial information, while following only the officially announced subscription process and IPO timetable.
It warned investors against transferring funds to individuals or entities claiming to receive IPO applications or subscriptions outside approved channels.
The Commission also urged investors to ensure that the channels or platforms of their chosen registered Capital Market Operators are duly authorised and approved for the offer.
The SEC further cautioned prospective investors against responding to unsolicited calls, WhatsApp messages, social media advertisements, emails or other communications offering or guaranteeing allotments or preferential allocation.
It advised investors to carefully read the approved prospectus and understand the terms, conditions and risks associated with the investment before making any subscription.
The Commission stressed that the existence of an individual, company, digital platform or social media account does not, by itself, constitute approval or authorisation to receive applications or funds from investors in respect of the offer.
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It therefore advised prospective investors to contact SEC-registered stockbrokers, banks or registered investment advisers for guidance before committing funds.
The SEC also urged members of the public to verify the registration status of companies, entities, platforms or individuals offering investment opportunities through its dedicated verification portals before entering into any transaction.
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