Dangote IPO rush crashes Bamboo login as investors flood platform

Investment platform Bamboo experienced login disruptions on Monday as a surge of investors attempted to access the app to participate in the N2.15 trillion Dangote Refinery and Petrochemicals FZE public offer.

The outage left some prospective investors unable to access their accounts during one of the most anticipated retail investment exercises in Nigeria’s recent capital market history.

Bamboo acknowledged the disruption in a statement posted on its official X account, attributing the difficulty to unexpectedly high traffic generated by the Dangote Refinery initial public offering (IPO).

“Hey everyone, we’re getting much higher-than-expected traffic trying to get into the Dangote IPO, and it’s making it difficult for some users to log into the Bamboo app,” the company said.

Bamboo assured affected customers that it was working to restore normal access, but did not provide a definite timeline for resolving the disruption.

“We’re working on a fix, and it will be up and running shortly,” the company added.

The incident highlights the pressure being placed on Nigeria’s digital investment infrastructure by the Dangote Refinery IPO, which opened on September 14 through about 55 approved electronic channels.

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The channels include banking applications, the Nigerian Exchange’s NGX Invest platform and several fintech and investment platforms.

The offer is expected to attract significant retail participation, with as many as 10 million potential subscribers reportedly being targeted.

Bamboo is among the platforms participating in the offer and has emerged as a significant channel for retail equity investment in Nigeria.

The platform reportedly accounted for 3.8 million equity transactions, representing about 22 per cent of all equity deals on the Nigerian Exchange (NGX) between January and July 2026.

Other digital platforms participating in the Dangote offer include NGX Invest, Meritrade, PiggyVest and Cowrywise, alongside participating commercial banks.

The Dangote IPO comes against the backdrop of a strong performance by Nigerian equities during the first half of 2026.

The NGX All-Share Index gained more than 54 per cent in the first six months of the year and reached an all-time high of 252,508.86 points in May.

The rally was driven by sustained buying interest in major stocks and improved investor sentiment.

However, the market subsequently experienced a correction as investors took profits and renewed selling pressure emerged following the record high.

Analysts say the combination of strong market performance and the high-profile Dangote offer could encourage more Nigerians to enter the equities market, but Monday’s Bamboo disruption also underscores the need for investment platforms to ensure their digital infrastructure can withstand sudden surges in demand.