Fidelity Bank Opens Multiple Channels for Dangote Refinery IPO Subscription for Nigerians and Diaspora

Fidelity Bank Opens Multiple Channels for Dangote Refinery IPO Subscription for Nigerians and Diaspora

By prince Benson Davies

Fidelity Bank has announced a seamless digital process for investors who wish to participate in the Dangote Petroleum Refinery Initial Public Offer, IPO. The Bank says eligible investors can complete their subscription in less than two minutes using its digital platforms.

The subscription window has been designed to accommodate all categories of investors. This includes existing retail customers, corporate organisations, and non-customers both in Nigeria and in the diaspora. To achieve this, Fidelity Bank has deployed four main channels: the Fidelity Bank Mobile App on iOS and Android, the corporate online banking platform for business customers, designated Fidelity Bank branches nationwide, and a dedicated Virtual Account portal on the Bank’s website.

One of the key features introduced for this offer is the Virtual Account option. This allows individuals who do not have a Fidelity Bank account to participate without opening a new account. Interested non-customers can visit the Fidelity Bank website, generate a unique Virtual Account number, and fund their IPO application directly from any operational bank account. The option also supports third-party funding, making it easier for family members, friends, or business associates to subscribe on behalf of others.

For existing retail customers, subscription can be completed instantly on the Fidelity Mobile App. Corporate customers can process their applications through the Bank’s corporate banking platform, following the standard inputter and authoriser workflow. Investors who prefer in-person assistance can visit any Fidelity Bank branch across the country.

To provide round-the-clock support, Fidelity Bank has activated its customer service desk, Fidelity TrueServe. Investors can reach the team by calling 070034335489, sending a WhatsApp message to 09030005252, or emailing trueserve@fidelitybank.ng.

For documentation, investors will be required to provide basic details. Non-Fidelity Bank account holders will need a Bank Verification Number, BVN. Minors will be required to present a National Identification Number, NIN. Existing Fidelity Bank customers will need an active account or online banking profile.

The Bank also noted that investors without a Central Securities Clearing System, CSCS, account can still participate. A stockbroking account can be opened through Fidelity Securities Limited to enable electronic crediting of allotted shares after the allotment process is completed.

Once a subscription is authorised, the selected account will be debited or the Virtual Account will be funded. The investor will then receive a confirmation message, a transaction reference, and a receipt as proof of application.

Fidelity Bank stated that the initiative is part of its commitment to democratize access to Nigeria’s capital market through simple, inclusive and technology-driven solutions.

Prospective investors are advised to read the approved Offer Prospectus before subscribing. The prospectus contains full details on eligibility, offer price, minimum subscription, permissible multiples, offer period and other terms guiding the Dangote Refinery IPO.