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Flutterwave will process digital payments for Dangote Refinery IPO subscriptions.
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Investors can start with 10 shares worth ₦5,250.
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Nigerians at home and abroad can pay through web, Flutterwave accounts or WhatsApp.
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People without bank accounts can access Flutterwave Microfinance Bank accounts to fund subscriptions.
September 11, (THEWILL) – Flutterwave is bringing a new digital payment route to Dangote Petroleum Refinery and Petrochemicals’ ₦525-per-share IPO, allowing Nigerians at home and abroad to fund subscriptions through web and mobile channels.
Investors can subscribe for as little as 10 shares, putting the minimum entry at ₦5,250.
Flutterwave said users do not need an existing Flutterwave account to access its web-based payment infrastructure. Existing Flutterwave for Business and Send App users can complete payments through their accounts, while Owo by Mono offers another route through WhatsApp.
People without bank accounts can also be provided with Flutterwave Microfinance Bank accounts to fund their subscriptions.
WhatsApp Becomes Another Route Into The IPO
Flutterwave’s payment infrastructure gives prospective investors several ways to fund a Dangote Refinery share purchase without requiring an existing relationship with Flutterwave.
Investors select how many shares they want, pay in Naira and have their subscription processed through Chapel Hill Denham’s subscription platform.
Parents and guardians can also subscribe for shares on behalf of minors.
Payment, however, does not guarantee full allocation. Investors who receive fewer shares than requested will have money relating to unallocated shares refunded in line with offer terms.
Successful investors will have allotted shares registered in their names with the Central Securities Clearing System, or CSCS.
Flutterwave is acting as a receiving agent and is not providing investment advice or stockbroking services. It also does not hold investors’ shares.
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Flutterwave has handled public-offering payments before. The company facilitated payments during MTN Nigeria’s 2021 public offering, when retail investors were invited to buy shares in Nigeria’s largest telecom operator.
Its involvement in Dangote Refinery’s IPO comes as digital platforms take on a bigger role in connecting retail investors with Nigeria’s capital market.
Dangote Refinery has a refining capacity of 650,000 barrels per day and is positioned as a major part of efforts to expand domestic petroleum refining and reduce dependence on imported products.
Flutterwave founder and CEO Olugbenga GB Agboola said his company wants to make participation easier for Nigerians regardless of where they live or which payment channel they use.
For investors, however, easier payment does not remove investment risk. Share prices can rise or fall, and investors could lose some or all of their money.
Flutterwave said it is acting solely as a receiving agent for the IPO in partnership with SEC-licenced stockbrokers.
Joy Onuorah is a business journalist and brand communications specialist covering financial markets, artificial intelligence, digital economy, and the ideas reshaping business across Africa and the global market. Beyond her reporting for TheWill, Joy uses brand strategy, storytelling, copywriting, and high-value SEO to help brands build lasting market authority.
