Moniepoint Microfinance Bank and TeamApt Limited have partnered to expand retail access to the Initial Public Offering (IPO) of Dangote Petroleum Refinery, allowing Nigerians to subscribe through Moniepoint’s digital banking platforms and nationwide POS network.

The offering allows retail investors to buy shares in Africa’s largest petroleum refinery, a 650,000-barrel-per-day facility, at N525 per share, with a minimum subscription of 10 shares and a maximum of 500 shares per transaction.

The partnership is designed to bring the capital market offering to communities beyond traditional financial centres.

Customers can subscribe through Moniepoint agent locations using POS terminals, while customers who prefer digital channels can complete their subscriptions through the Moniepoint Personal and Business Banking apps.

Moniepoint MFB and TeamApt, both subsidiaries of the Moniepoint Group, are providing complementary services for the offering.

Moniepoint MFB provides customer reach through its distribution network, while TeamApt provides the technology infrastructure for processing transactions.

Moniepoint said its POS network spans all 774 local government areas in Nigeria, providing access to financial services across the country.

Managing Director and Chief Executive Officer of Moniepoint Microfinance Bank, Babatunde Olofin, said the partnership was aimed at widening access to investment opportunities.

Chief Executive Officer of TeamApt, Dennis Ajalie, said the infrastructure would enable the capital-market offering to reach retail investors reliably and at scale.