Bank urges investors to study offer documents, use approved channels.
United Bank for Africa Plc (UBA) has been named an authorised financial institution through which eligible investors can subscribe for shares in the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE.
The appointment positions UBA as one of the financial institutions providing access to the landmark public offer, giving its customers and other eligible investors an opportunity to acquire an interest in one of Nigeria’s largest industrial enterprises.
The Dangote Refinery IPO comprises 4.1 billion ordinary shares priced at ₦525 per share, with investors able to subscribe for a minimum of 10 shares at a total cost of ₦5,250. Eligible investors may apply for additional shares in line with the terms and conditions set out in the offer documents.
The offer opened on Monday, September 14, 2026, and is scheduled to close on October 13, 2026, subject to the terms of the offer.
Commenting on UBA’s appointment, the bank’s Group Executive Director Designate, Tosin Adewuyi, said the financial institution was pleased to be among the approved channels through which investors could participate in the offer.
“We are pleased to be named as one of the approved financial institutions providing access to the Dangote Refinery public offer. At UBA, we remain committed to deepening financial inclusion and expanding opportunities for individuals and businesses to participate meaningfully in Nigeria’s capital market,” Adewuyi said.
He said the offer would give eligible investors an opportunity to participate in the ownership of a major Nigerian industrial enterprise, while stressing the importance of making investment decisions based on a proper understanding of the terms and associated risks.
“This public offer provides eligible investors with an opportunity to participate in the ownership of a major Nigerian industrial enterprise. We encourage interested investors to obtain and carefully review the offer documents, understand the terms and risks involved, and make informed investment decisions,” he said.
The bank said eligible investors can subscribe for the shares through its designated subscription channels, subject to the applicable procedures and conditions governing the offer.
UBA also advised prospective subscribers to ensure that their personal and banking information is accurate and up to date before submitting their applications. In particular, investors are expected to verify their Bank Verification Number (BVN) details as part of the subscription process.
For UBA customers, the offer can be accessed through the bank’s designated self-service channel, subject to the applicable subscription requirements.
The bank further urged investors to read the Prospectus and other relevant offer documents carefully before committing funds. It advised prospective subscribers to seek appropriate professional advice where necessary, particularly in assessing the risks associated with investing in shares.
UBA emphasised that investments in equities carry inherent risks and that the value of an investment can rise or fall.
The financial institution also warned prospective investors to remain vigilant against fraudulent activities associated with the public offer. It urged subscribers to use only approved subscription channels and avoid responding to unauthorised individuals or platforms seeking payment or personal information in connection with the IPO.
The bank said the offer is open to individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible investors seeking to participate in the public offer.
The development comes as the Dangote Refinery continues to occupy a prominent position in Nigeria’s industrial and energy landscape. The public offer provides eligible investors with an avenue to participate in the ownership of the business while deepening retail and institutional participation in the Nigerian capital market.
UBA is one of Africa’s major financial institutions, with operations spanning 20 African countries as well as the United Kingdom, United States, France and the United Arab Emirates. The bank provides retail, commercial and institutional banking services to more than 45 million customers globally.