The Capital Markets Authority has warned Kenyans against investing in the Dangote Refinery Initial Public Offering (IPO), noting the offer lacks local approval. In a public notice, the regulator clarified that the IPO is regulated in Nigeria and has not been submitted to the CMA for consideration under Kenya's legal and regulatory framework. CMA further cautioned investors against making payments or sharing personal and financial details based on unverified IPO communications circulating online.