Nigeria, June 24 -- The Securities and Exchange Commission (SEC) has warned Nigerians and investors against participating in a purported initial public offering (IPO) of Dangote Petroleum Refinery & Petrochemicals FZE, saying no application for such an offer has been submitted to or approved by the regulator.

In a notice issued on Tuesday, the commission said its attention had been drawn to advertisements, flyers, digital banners and electronic messages circulating on social media and investment platforms promoting what was presented as a securities offering by the refinery.

The SEC expressed concern over the involvement of some registered capital market operators in soliciting advance subscriptions from investors for the purported offe...