But if Mr Otedola was acting as part of a sting operation for Nigeria's intelligence agency, the State Security Services (SSS), as he has claimed, he will not be charged, but may be called as a witness, our reporter says.

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The country's largest institution, Metrobank, persuaded state-run pension fund SSS to swap its 6.3% stake in FEBTC for 5% of Metrobank.

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In China, SSS grew 14%, while both the international unit and the U.S. unit saw a 5% expansion.

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