Nigeria Stock Exchange Suspends Companies Over Failure to Submit Reports

Nigeria’s stock exchange suspended the listings of 15 companies, including Nigerian Wire & Cable Plc and Golden Guinea Breweries Plc, for failing to submit their 2008 earnings statements.

The companies were given until Oct. 11 to render their accounts, or face delisting, the Lagos-based bourse said in an e-mailed statement today.

A further 28 companies, including Dangote Flour Mills Plc and African Petroleum Plc, will be placed on technical suspension from Oct. 4 for failing to submit their 2009 financial statements, the exchange said.

To contact the reporter on this story: Vincent Nwanma in Lagos at vnwanma@bloomberg.net

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