Nigeria, Oct. 14 -- Wayve Microfinance Bank Limited, operator of WayvePay digital banking platform, said no investor subscribed for shares in the ongoing Dangote Petroleum Refinery and Petrochemicals initial public offering (IPO) via its platform, following a recent warning by the Securities and Exchange Commission (SEC).

The digital bank said this in a statement, saying it withdrew promotional materials and removed the associated link from its mobile application after the SEC directed customers to refrain from investing through its trading platform.

Last Friday, the SEC warned the public against investing through WayvePay, saying the platform is not registered to solicit public investment or operate in any capacity in the Nigerian capi...