The Securities and Exchange Commission has cautioned prospective investors against falling victim to fraudulent platforms and unauthorised individuals as the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE opens to the public on Monday, September 14, 2026.

The Commission, in a public notice signed by its management on September 14, urged investors to exercise caution and ensure that all applications and payments relating to the offer are made only through officially designated and approved receiving agents, subscription channels and platforms.

The SEC specifically advised prospective investors to obtain information about the IPO only from its official channels, the issuer’s official channels and other channels established and approved for the offer. It also urged investors to verify the authenticity of websites, platforms and links before providing personal or financial information.

The Commission further warned investors to follow only the officially announced subscription and application process and IPO timetable. It said investors should avoid transferring funds to individuals or entities claiming to receive applications or subscriptions outside the approved channels.

According to the SEC, prospective investors must also ensure that their chosen registered Capital Market Operators’ channels and platforms are duly authorised and approved for the offer. The Commission warned against responding to unsolicited calls, WhatsApp messages, social media advertisements, emails or other communications offering or guaranteeing allotments or preferential allocation.

The notice stated, “Avoid responding to unsolicited calls, WhatsApp messages, social media advertisements, emails or other channels/platforms that offer or guarantee allotments or preferential allocation.”

The SEC also advised investors to carefully read the approved prospectus and understand the terms, conditions and risks associated with the investment before subscribing to the IPO.

Emphasising the need for vigilance, the Commission said, “The SEC reiterates that the existence of an individual, company, digital platform or social media account does not, by itself, constitute approval or authorisation to receive applications or funds from investors in respect of the Offer.”

The regulator consequently advised prospective investors to contact SEC-registered stockbrokers, banks or registered investment advisers for guidance before participating in the offer.

It further directed members of the public to verify the registration status of companies, entities, platforms or individuals offering investment opportunities through the Commission’s dedicated FinTech and Innovation Hub portal or its Capital Market Operators portal before entering into any transaction with them.

The warning comes as Dangote Petroleum Refinery and Petrochemicals FZE commences its IPO, making investor verification and strict adherence to the approved subscription channels particularly important to prevent fraudulent transactions and unauthorised fundraising.