If youโre seeing this tweet and you donโt know how to prepare for the Dangote Refinery IPO, bookmark this right now.
STEP 1 โ Get a traditional stockbroker
This is where most people will get it wrong. When this IPO drops you need a registered dealing member of the NGX not Bamboo, not Trove, not Chaka. Those apps are for buying stocks already trading on the market. An IPO is a primary market offering. Your application goes through a traditional broker directly.
Here are the top brokers on the NGX right now ranked by actual trade value in 2025. Pick one.
CardinalStone Securities โ No. 1 broker on the NGX three years straight. First broker to cross โฆ2 trillion in trades. They have an app too.
Stanbic IBTC Stockbrokers โ Backed by a major bank. Strong app. Instant settlement if you bank with Stanbic.
Meristem Stockbrokers โ Best for beginners. Webinars. Education. Customer support that actually answers.
Cordros Securities โ Solid institutional broker with retail access.
Chapel Hill Denham โ Strong research. Fully equipped for equities and IPOs.
Afrinvest Securities โ Around since 1995. Wealth management and IPO access.
STEP 2 โ Open a CSCS account
Your broker will do this for you. CSCS is your identity in the Nigerian stock market. No CSCS number no shares. You need your BVN, a valid ID, passport photo and a bank account. Most brokers set you up within a week. Some do it online in 24 hours.
STEP 3 โ Start saving now
Donโt wait for the prospectus before you start putting money aside. Open a money market fund or high yield savings account and park money there every week. When the IPO window opens it wonโt stay open long. The people who had cash ready will get in. Everybody else will get a sorry email.
STEP 4 โ Wait for the prospectus
This is the official document that tells you everything. Share price. Minimum subscription. How to apply. Timeline. When it drops read it yourself. Donโt depend on Twitter summaries. Read the actual document.
STEP 5 โ Apply early
IPOs get oversubscribed. First movers get allocated. Latecomers get refunds and regret. When the window opens move immediately. Not tomorrow. Not this weekend. Immediately.
STEP 6 โ Donโt panic if you donโt get full allocation
This is normal. If the IPO is oversubscribed you might not get every share you applied for. The money for unallocated shares gets refunded to your account. Standard process. But if you never applied nothing comes back because nothing went out.
The window hasnโt opened yet. But by the time it does only two types of people will exist. Those who prepared and those who watched.
Donโt watch.
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