Social media influencer Martins Vincent Otse, popularly known as VeryDarkMan, has drawn sharp criticism from some Nigerians on X after posting documents related to an individual who purchased 1,200 units of Dangote Flour Mills shares for ₦18,000 in 2007.
In the post, VeryDarkMan shared what he described as receipts showing the shares were bought at ₦15 per unit, alongside records of subsequent dividend payments. According to the documents, the investor received ₦324 and ₦216 in dividends in 2009, and a further ₦108 in 2012.
VeryDarkMan later advised those considering the ongoing Dangote Refinery Initial Public Offering (IPO) to watch the video, suggesting the historical documents contained relevant lessons for potential investors.
The post quickly attracted pushback. Several X users questioned the connection between a 2007 Flour Mills investment and the current Refinery IPO, with some accusing the influencer of discouraging participation.
@kelz_Realist noted that the experience was not unique, pointing to the broader impact of the 2007–2008 global financial crisis on the Nigerian stock market. “There’s nothing new here. The stock market crashed in 2007/08. I was affected. All the shares I bought from major companies, banks, and insurance companies crashed,” the user wrote.
@ajokpa challenged the expectations around the modest outlay, asking: “How much were you expecting from a ₦18k investment in the capital market?”
@Fortunate0_1 accused VeryDarkMan of actively discouraging investment, while @odunlamisodiq insisted investors already understood the risks involved: “Oga rest we don buy we don buy we all knows dat anything for the country na risk either it works out or not it left to us.”
Other commenters focused on credentials and motives. @santos_sure questioned VeryDarkMan’s qualification to offer financial advice, and @EnzoXtra asked why the influencer was singling out Dangote. @User_047 stressed that stock investments inherently carry risk and that returns are never guaranteed, writing: “Na Black man be Black man problem. People expecting short-term returns or no risk at all should stay away from any kind of Stock (IPO). Stocks rise and fall everywhere in the world; you shouldn’t de-market people’s business.”
@Oluwasheyi45 added that returns depend on company performance and that equities should not be treated as fixed-income investments.
The exchange has highlighted ongoing public debate around risk awareness, historical market performance, and the role of influencers in shaping investment conversations surrounding the Dangote Refinery IPO.