Zenith Bank Opens Digital, Branch Channels For ₦2.15trn Share Offer

• Nigerians in the country and the diaspora can subscribe to the Dangote Petroleum Refinery and Petrochemicals Initial Public Offering through Zenith Bank’s digital platforms and its branches nationwide.

• The offer is scheduled to open on Monday, September 14, 2026, and close on Tuesday, October 13, with each share priced at ₦525 and a minimum subscription of 10 shares costing ₦5,250.

• The ₦2.15 trillion fundraising target would make the transaction the largest equity offering ever undertaken on the African continent, while qualifying retail investors may be entitled to bonus shares under the incentive programme.

• Zenith Bank, serving as a receiving bank and electronic application channel, says its extensive branch network and upgraded digital infrastructure are designed to provide investors with a secure and seamless route into the landmark offer.

September 12, () – Nigerians at home and abroad seeking to acquire shares in the Dangote Petroleum Refinery and Petrochemicals can subscribe to the landmark Initial Public Offering (IPO) through Zenith Bank, one of the designated receiving banks and electronic application channels for the transaction.

The subscription channels available to prospective investors include the Zenith Bank website, Zenith mobile application, internet banking, USSD, corporate internet banking and any of the bank’s branches nationwide.

The bank said its network of 456 branches and 84 cash centres would provide investors with multiple avenues to participate in the offer, regardless of their location.

This means Nigerians in the diaspora can initiate their applications through the bank’s digital platforms, while investors within Nigeria can subscribe electronically or visit any Zenith Bank branch to complete the process.

According to the offer details, applications are expected to open on Monday, September 14, 2026, and remain open for 30 days before closing on Tuesday, October 13, 2026.

The shares are being offered at ₦525 each, with investors required to subscribe to a minimum of 10 shares, representing an entry point of ₦5,250.

The offer seeks to raise ₦2.15 trillion, a figure that would make it the largest equity offering ever undertaken on the African continent.

The transaction also contains an incentive for qualifying retail investors. According to the prospectus, retail investors who subscribe and retain their shares may qualify for bonus shares under the Retail Investor Incentive Programme, subject to the applicable regulatory approvals and conditions.

Zenith Bank said every application submitted through its channels would be linked to the investor’s Bank Verification Number (BVN), providing an additional layer of identity verification and security throughout the subscription and allotment process.

The bank said the arrangement was designed to make participation straightforward for both first-time investors and existing shareholders, while reducing the barriers associated with subscribing to a transaction of such magnitude.

The Dangote Refinery IPO is coming against the backdrop of the refinery’s emergence as a major player in Nigeria’s petroleum industry following the commencement of operations at the 650,000-barrel-per-day facility in Lagos. The listing and share offer represent a significant step in broadening public participation in one of Nigeria’s most prominent industrial investments, while also providing the company with access to substantial domestic and international capital.

For Zenith Bank, the transaction provides another opportunity to deploy its digital banking infrastructure and nationwide physical presence in handling a major capital-market transaction.

The bank noted that its own most recent public offering was executed largely through digital channels, which it said demonstrated its capacity to process large-scale investment transactions electronically. It added that its technological infrastructure had subsequently undergone further upgrades as part of a broader transformation programme aimed at improving services to retail customers.

Within the wider Dangote Refinery transaction, Quantum Zenith Capital & Investments Limited is among the joint issuing houses, while Zenith Bank is serving as a receiving bank and electronic application channel.

Zenith Bank said the combination of its financial strength, digital infrastructure and extensive branch network positioned it to support investors participating in the offer.

The bank has urged prospective subscribers to study the prospectus and ensure they understand the terms, conditions and applicable regulatory requirements before making investment decisions.

Investors are expected to open or fund existing Zenith Bank accounts and make payment through the bank’s approved electronic platforms or branches during the offer period.

The bank also advised prospective investors to seek independent professional advice where necessary before subscribing to the offer.

The Dangote Refinery IPO is expected to attract significant interest from retail and institutional investors, given the scale of the refinery, its strategic importance to Nigeria’s energy sector and the unprecedented size of the proposed ₦2.15 trillion equity offering.

With subscription scheduled to begin on September 14, investors using Zenith Bank’s channels will have until October 13 to submit their applications, subject to the terms contained in the prospectus and applicable regulations.