Tunde Olofin, MD Moniepoint MFB
Payment technology firms, Moniepoint Microfinance Bank and TeamApt Ltd. have partnered to expand retail investors’ access to the Initial Public Offering (IPO) of Dangote Petroleum Refinery.
The Managing Director, Moniepoint MFB, Mr. Babatunde Olofin, said in a statement on Thursday in Lagos, that the partnership would make investment opportunities more accessible to Nigerians.
Olofin said that the initiative would enable prospective retail investors to subscribe to the IPO through Moniepoint POS terminals and its Personal and Business Banking applications.
He said that the offering was priced at N525 per share, with investors required to purchase a minimum of 10 shares and a maximum of 500 shares per transaction.
“Through the arrangement, Nigerians can visit Moniepoint agent locations nationwide to subscribe through POS terminals or complete the process digitally through the Moniepoint apps.
“Our POS network gives us the reach to bring this opportunity into communities beyond traditional financial centres,” Olofin said.
He said that the company’s nationwide POS network could help bring the capital-market opportunity closer to market traders, artisans and first-time investors.
According to him, the initiative aligns with Moniepoint’s broader objective of expanding access to financial services and opportunities for Nigerians.
He said that the Dangote Refinery IPO provided Nigerians an opportunity to participate in the growth of a major Nigerian business.
The Dangote Petroleum Refinery, with a stated capacity of 650,000 barrels per day, is one of the country’s major energy infrastructure projects.
The Managing Director, TeamApt Ltd., Mr Dennis Ajalie, said that the firm’s payment infrastructure would support the processing of retail subscriptions.
Ajalie said that the company had spent more than a decade developing payment infrastructure supporting banks and financial institutions across Nigeria.
He said that the partnership demonstrated how payment technology could connect capital-market opportunities with wider retail distribution.
“Our technology is connecting a major capital-markets opportunity to a distribution network that reaches millions,” Ajalie said.
He said that the development could point to broader opportunities for expanding retail participation in Nigeria’s financial markets.
TeamApt, a Central Bank of Nigeria (CBN)-licensed switching and processing company, provides payment infrastructure for banks and fintech companies.
Moniepoint MFB, also regulated by the CBN, provides banking and financial services to businesses and individuals across Nigeria.
The collaboration combines Moniepoint’s physical and digital customer channels with TeamApt’s payment-processing infrastructure to facilitate retail participation in the IPO.
