When Dangote Refinery began selling shares in September, Nigerians could subscribe through dozens of banks and digital investment apps for as little as ₦5,250 ($3.96) for ten units. Investors elsewhere in Africa had fewer options. The $1.6 billion offer was registered only in Nigeria, leaving interested buyers in markets such as Kenya and Botswana subject to local securities rules and with limited distribution.
The gap helps explain Roqqu’s next bet: the Nigerian-founded cryptocurrency exchange wants to put local equities on blockchain networks and make them available to eligible investors abroad. The startup already offers its users tokenised US stocks through Ondo Finance, a US-based company that issues blockchain tokens linked to publicly traded shares, and now wants to reverse that flow.
Emmanuel Peter, Roqqu’s head of trading and markets, sees the company as the distribution layer rather than a replacement for the Nigerian Exchange (NGX), the country’s stock exchange. Existing brokers would buy shares, authorised custodians would hold them, and Roqqu would provide the infrastructure to issue corresponding blockchain tokens. Other crypto exchanges could eventually distribute the same tokens, widening access beyond Roqqu’s users.
Roimot Ibitoye, the company’s chief compliance officer, said the tokens would be matched by shares held in custody, with regular checks to prevent over-issuance. Roqqu told TechCabal that it intends to distribute dividends, execute stock splits, and provide other shareholder benefits. According to its executives, Roqqu is engaging with regulators, brokers, custodians, and fund managers as it develops the proposed product.
The company has not named its institutional partners or identified which Nigerian stocks it plans to tokenise first. Its executives expect Nigerian tokenised securities to become available before 2027, although the product’s regulatory status and launch remain unclear. How a Nigerian share becomes a token As an illustration, consider a Kenyan investor seeking exposure to