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Zenith Bank Opens Digital, Branch Channels for Dangote Refinery IPO

Nigerians at home and in the diaspora seeking to participate in the landmark initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals can subscribe through Zenith Bank, a receiving bank and designated electronic application channel for the historic transaction.

Subscriptions are available through the Zenith Bank website, mobile app, internet banking, USSD, corporate internet banking, and any of the bank’s branches nationwide.

Through these channels, supported by Zenith Bank’s network of 456 branches and 84 cash centres, investors can access what the bank describes as a secure, fast, and reliable route into the offer from anywhere in the world, at any time.

Whether an application is initiated on a phone in London, a laptop in Houston, or across the counter of a Zenith banking hall in Lokoja, investors can complete the process with a few taps or through an in-branch application.

Every subscription is linked to the investor’s Bank Verification Number (BVN), providing an additional layer of identity verification and security from submission to allotment.

Zenith Bank says its process is designed to offer first-time and experienced investors a straightforward and secure experience, with their applications handled through the bank’s established systems.

Applications open on Monday, 14 September 2026, and will run for 30 days, closing on Tuesday, 13 October 2026.

According to the prospectus, the shares are offered at ₦525 each, with a minimum subscription of 10 shares, or ₦5,250.

The offer seeks to raise ₦2.15tn, which the prospectus describes as the largest equity offering ever undertaken on the African continent.

It also provides for retail investors who subscribe and hold their shares to qualify for bonus shares under the Retail Investor Incentive Programme, subject to regulatory approvals.

Zenith Bank says it is prepared to facilitate participation for investors who choose to take part in the offer.

Describing itself as Nigeria’s largest bank by Tier-1 capital and the country’s most profitable bank, Zenith said it had built its reputation on combining scale with innovation, and that its capabilities were now available to investors participating in the offer.

The bank said its most recent public offering was executed mainly through digital channels, demonstrating the readiness of its digital infrastructure.

It added that the infrastructure had since been strengthened through a comprehensive technological overhaul, positioning the bank to serve retail customers with the same level of service long enjoyed by its corporate clients.

Within the wider transaction, Quantum Zenith Capital & Investments Limited is one of the joint issuing houses, while Zenith Bank is providing the channels through which applications are received and processed.

Having taken its own public offering to the market through digital channels, Zenith Bank said it was bringing the same infrastructure and experience to the Dangote Refinery offer.

The bank attributed its recognition as one of Africa’s foremost financial institutions to its financial strength, digital capabilities, and commitment to customers. It said it was trusted by millions of customers, as well as the corporates and governments behind some of the continent’s biggest transactions.

Zenith Bank said it had served as a trusted gateway to Nigeria’s major financial transactions for more than three decades, adding that its channels were open to investors seeking to participate in the offer.

Investors can fund their Zenith Bank accounts and subscribe through any of the bank’s platforms before the offer closes on 13 October 2026.

The bank said the details of the offer were contained in the prospectus and were subject to applicable regulations.

Zenith Bank is a receiving bank and electronic application channel for the offer. Investors are advised to read the prospectus carefully and, where appropriate, seek independent professional advice before making any investment decision.

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