The development left many investors unable to access their accounts at one of the most anticipated retail investment moments in recent Nigerian market history. Acknowledging the disruption in a statement posted on its official X account, Bamboo attributed the outage to traffic volumes far beyond what its infrastructure could handle. The company said the scale of investor interest in the Dangote IPO caught the platform off guard. “Hey everyone, we’re getting a 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, but assured affected users that it was working to restore access.
The platform did not, however, provide a specific timeline for when the app would return to normal operation. “We’re working on a fix, and it will be up and running shortly,” Bamboo said in the statement. The login disruption comes as digital investment platforms prepare for a surge in retail participation in the Dangote Refinery public offer, with Nairametrics reporting that platforms are competing to attract as many as 10 million potential subscribers. The scale of the expected participation has made digital distribution a major part of the offer.
The Dangote Refinery opened its N2.15 trillion public offer on September 14 through about 55 approved electronic channels, including bank apps, the NGX Invest platform and fintech and investment platforms. Bamboo is among the investment platforms participating in the offer and has also become a major channel for retail participation in Nigerian equities. Nairametrics previously reported that Bamboo accounted for 3.8 million equity transactions, representing about 22 percent of all equity deals on the NGX between January and July 2026. The offer is also available through other digital channels, including NGX Invest, Meritrade, PiggyVest and Cowrywise, alongside participating banks.
The Dangote Refinery public offer is coming to market after a strong run in Nigerian equities, with the NGX All-Share Index gaining more than 54 percent in the first half of 2026. The index reached an alltime high of 252,508.86 points in May, reflecting the strong momentum that had characterised the market. The rally was driven by sustained buying interest across major stocks, as investors sought to position for gains amid improved market sentiment. However, the bullish run was followed by a correction, with profit-taking and renewed selling pressure weighing on equities after the index reached its record level.
