Nigeria’s Securities and Exchange Commission (SEC) orders capital market operators to stop marketing and promoting a purported initial public offering (IPO) by Dangote Petroleum Refinery & Petrochemicals FZE. The SEC issues a public notice stating that it has not received an application for the proposed IPO and has not granted approval for any such offer. The regulator therefore warns investors not to rely on information about the IPO or participate in any fundraising activities linked to it, since no authorization exists from the SEC. Both outlets report that the SEC’s action targets promotion efforts by market operators, indicating that some promotional activities were already underway or being circulated publicly. The SEC’s position is that an IPO can only proceed if it is properly filed with and approved by the regulator, and it emphasizes that investors should verify the status of any capital market offer with the SEC before committing funds. The reports do not indicate that the company has submitted an IPO application, only that the regulator says no application has been filed or approved.