Moniepoint Microfinance Bank and TeamApt Limited have expanded access to the Dangote Petroleum Refinery initial public offering (IPO), allowing Nigerians to subscribe for shares through Moniepoint’s nationwide POS terminals and digital banking platforms.
The initiative is aimed at bringing the public offer to retail investors who may not ordinarily have direct access to traditional capital market channels.
Under the offer, shares in the 650,000-barrel-per-day Dangote Petroleum Refinery are available at N525 each, with investors allowed to subscribe for a minimum of 10 shares and a maximum of 500 shares per transaction.
Moniepoint said customers can subscribe by visiting its agent locations and using POS terminals, while those who prefer digital transactions can complete the process through its Personal and Business Banking apps.
The company said the arrangement would make it possible for Nigerians in communities across the country to participate in the offer through financial channels they already use.
Moniepoint Microfinance Bank and TeamApt, both subsidiaries of the Moniepoint Group, are providing complementary services for the initiative. While Moniepoint MFB is providing the customer reach and distribution network, TeamApt is providing the technology infrastructure for processing the transactions.
Moniepoint said its POS network covers all 774 local government areas in Nigeria, extending its physical presence beyond major financial centres.
The Managing Director and Chief Executive Officer of Moniepoint Microfinance Bank, Babatunde Olofin, said the initiative was in line with the company's goal of making financial opportunities more accessible.
"Moments like this are exactly why we built Moniepoint the way we did.
"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. 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 democratise wealth opportunities, reaching everyday people - market traders, artisans, and first-time investors wherever they are."
Olofin said the collaboration would allow more Nigerians to participate in the ownership of a major Nigerian business.
He said the technology supporting the offering was being provided by TeamApt, a Central Bank of Nigeria-licensed switching and processing company that has spent more than a decade building payment infrastructure for Moniepoint and other financial institutions.
According to him, the infrastructure would enable the capital market offer to reach retail investors reliably and at scale.
The Managing Director and Chief Executive Officer of TeamApt, Dennis Ajalie, said the initiative demonstrated the potential of existing payment infrastructure to widen participation in the capital market.
"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.
"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. As infrastructure builders, we see opportunities to extend these capabilities to other sectors and use cases in the future, creating new ways for more Nigerians to participate in and benefit from the growth of the economy."
Ajalie said the partnership showed how technology, financial services and distribution could work together to expand access to opportunities within Nigeria's financial ecosystem.
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