Keystone Bank has been appointed as one of the accredited receiving agents for the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, widely regarded as one of the most significant industrial projects on the African continent.
The appointment positions the bank as an authorised channel through which qualifying Nigerian and international investors can subscribe for shares in the landmark enterprise. Under the terms of the offer, 4.1 billion ordinary shares are being made available at ₦525 per share. The minimum subscription is 10 shares, valued at ₦5,250, with applicants free to apply for additional shares in accordance with the conditions set out in the offer documents.
The subscription window opened on Monday, 14 September 2026, and is scheduled to close on 13 October 2026, subject to the provisions of the offer documentation. Keystone Bank is inviting both its existing customers and non-customers to participate through its approved digital and physical channels.
Speaking on the development, Nnenna Anyim Okoro, Executive Director, Corporate Bank and South at Keystone Bank, said: “The Dangote Refinery Offer is more than an investment opportunity; it is an invitation for Nigerians to own a stake in an asset that is poised to contribute significantly to the nation’s industrial and economic future. As a Receiving Agent, Keystone Bank is proud to support this historic transaction by providing investors with a seamless, secure, and convenient subscription experience across our digital and physical channels.
“We believe that access to wealth-creation opportunities should be simple, inclusive, and available to all. Through this offer, retail and corporate investors alike have the opportunity to participate in a landmark enterprise, and we are committed to making that journey as straightforward as possible.”
She urged prospective investors to conduct proper due diligence, carefully review the offer documentation, and make decisions aligned with their financial objectives. “We look forward to enabling wider participation in this significant milestone for Nigeria’s capital market and economic development,” she added.
Investors are advised to ensure that their personal and banking details, including Bank Verification Number (BVN), are accurate and up to date before submitting applications. Subscriptions can be made via the bank’s designated channels at https://www.keystonebankng.com/keystone-bank-dangote-petroleum-refinery-ipo/, subject to the applicable process and terms.
The Dangote Refinery IPO is structured to broaden ownership of the facility and is viewed as a defining transaction for the Nigerian capital market, offering retail investors a practical route into the business. Keystone Bank is inviting individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible parties to subscribe through its platforms.
Prospective investors are strongly encouraged to read the Prospectus and other offer documents carefully and to seek professional advice where necessary. The bank also advises the public to subscribe only through approved channels and to remain vigilant against fraudulent schemes. The official Dangote Refinery IPO website specifically warns investors never to disclose their PIN, password or OTP, or to transfer funds into any personal account.
Keystone Bank Limited is a leading Nigerian commercial bank licensed by the Central Bank of Nigeria in 2011. It serves individuals, businesses and corporate clients through a network of over 157 branches nationwide, offering retail, commercial and digital banking solutions with a focus on innovation, financial inclusion and customer-centric services.
