VeryDarkMan Threatens MTN With Court Action Over Dangote Refinery IPO Advert, Says it looks like Ponzi Scheme

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Social commentator Martins Vincent Otse, popularly known as VeryDarkMan, has threatened to take legal action against MTN Nigeria over a promotional message about the Dangote Refinery IPO that he says was sent to his personal phone number without his consent.

In a video shared on Tuesday, September 15, 2026, VeryDarkMan questioned how his NIN linked number was allegedly obtained and used for the promotional campaign.

“MTN, my lawyers will write to you. Why was my NIN linked number used for Dangote IPO ads without my consent? I need an explanation or we’ll meet in court,” he said.

He also raised concerns about how telecommunications companies handle customers’ personal information, particularly when such data is allegedly used for commercial promotions.

The controversy comes a day after Dangote Petroleum Refinery opened its initial public offering, offering 4.1 billion ordinary shares at ₦525 each. The offer is expected to raise about ₦2.15 trillion if fully subscribed, with investors able to start with a minimum of 10 shares worth ₦5,250. ([Reuters][1])

VeryDarkMan also challenged businessman Aliko Dangote to focus on reducing the prices of essential products such as cement, fuel, rice and sugar rather than encouraging Nigerians to buy shares in the refinery.

He described the IPO as looking like a “Ponzi scheme” to him, while urging Dangote to prioritise lowering the cost of everyday commodities.

“If Dangote really cares about Nigerians, he should reduce the price of cement, fuel, rice, and sugar instead of selling refinery shares,” he said.

The Securities and Exchange Commission has separately advised prospective investors to rely only on officially approved channels for the Dangote Refinery IPO and warned against responding to unsolicited investment messages, calls or online promotions that are not from authorised channels.


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