Regulatory Alerts2026-06-23
Cease and Desist Directives on Misleading and Manipulative Solicitations, Promotional, and Pre-marketing Activities Relating to a Purported Securities Offering of Dangote Petroleum Refinery & Petrochemicals FZE
The Securities and Exchange Commission of Nigeria issued a directive prohibiting Registered Capital Market Operators from soliciting advance subscriptions for a purported securities offering by Dangote Petroleum Refinery & Petrochemicals FZE. The Commission clarified that no application for an IPO or public offer has been filed or approved, labeling the ongoing premature marketing activities as market manipulation and a serious violation of the Investments and Securities Act. Investors are advised to ignore high-pressure tactics and pre-funding requests, relying solely on official pronouncements and verified information from the SEC portal.
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