Social commentator VeryDarkMan has threatened legal action against MTN Nigeria over a Dangote Petroleum Refinery IPO promotional message he says was sent to his private phone number without his consent.
VeryDarkMan, in a video shared on his social media platforms, said he wants MTN to explain how his private number was allegedly made available for the Dangote IPO campaign.
His reaction comes a day after the Dangote Petroleum Refinery officially opened its Initial Public Offering (IPO), in what has been described as Africa’s largest IPO. The offer is priced at ₦525 per share, with a minimum subscription of 10 shares valued at ₦5,250.
According to VeryDarkMan, he received a message promoting the offer and encouraging recipients to invest in the refinery.
He questioned why the message was sent to his private line, which he said was not publicly available for advertising purposes.
“MTN, it’s simple. This is my privacy,” VeryDarkMan said, demanding an explanation for how his number was obtained and used for the campaign.
He also questioned whether other personal information connected to his line could have been accessed or shared without his knowledge.
VeryDarkMan said his lawyers would write to MTN and warned that he could take the matter to court if the company’s explanation does not satisfy him.
VDM questions Dangote IPO
Beyond the privacy complaint, VeryDarkMan also criticised the Dangote Refinery IPO and said he personally views the share offer as resembling a Ponzi scheme.
However, the claim was presented as his personal opinion rather than evidence that the IPO is a Ponzi scheme.
He questioned why Dangote would seek investment from ordinary Nigerians while Nigerians continue to face high costs of essential goods and services.
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VeryDarkMan argued that if Dangote wanted to create wealth for Nigerians, reducing the prices of products such as cement and petroleum products would, in his view, have a more immediate effect on people’s lives.
He also questioned whether Nigerians should expect wealth creation simply from investing the minimum ₦5,250 in the IPO.
His comments came as public attention around the refinery’s share offer increased following Monday’s official launch.
What the official IPO information says
The Dangote Refinery IPO consists of 4.1 billion ordinary shares offered at ₦525 each, with the offer targeting about ₦2.15 trillion. The minimum subscription is 10 shares, equivalent to ₦5,250. The offer is scheduled to remain open until October 13, 2026.
The refinery and the Securities and Exchange Commission have also warned prospective investors to follow the approved subscription process and verify platforms before providing personal or financial information. The SEC specifically advised investors to avoid unsolicited calls, WhatsApp messages, social media advertisements, emails or other channels that offer or guarantee IPO allotments outside approved channels.
The official IPO information also states that investing in shares carries risk and that the value of shares can rise or fall.
It remains unclear from VeryDarkMan’s account alone how his number was obtained or whether the message was sent directly by MTN, through a third-party advertising arrangement, or through another mechanism.
MTN’s response to the allegation had not been included in VeryDarkMan’s statement at the time of publication.
DailyInsightNG will update this report if MTN or Dangote provides a response.