THE ATTORNEY-GENERAL OF LAGOS STATE (SUING IN A REPRESENTATIVE CAPACITY) FOR AND ON BEHALF OF THE GOVERNOR OF LAGOS STATE THE STANDING TRIBUNAL OF INQUIRY INTO THE SALE AND ACQUISITION OF SHARES IN EKO HOTEL IN 1997) V. EKO HOTELS LIMITED OHA LIMITED

OGUNTADE, JCA (Delivering the Lead Judgment): In suit No. FHC/L/CS/1089/99 at the Federal High Court, Lagos, the respondents were the plaintiffs and appellants, the defendants. The plaintiffs by their originating summons issued on 17/9/99 sought the determination of the following questions:

1. Whether the statutory-office of the Governor of Lagos State is vested with/seised of constitutional legislative authority/vires to make subsidiary/delegated legislation which empowers the conduct of an inquiry into matters that pertain to the business-conduct of the sale of shares in a private limited liability company deemed to have been incorporated under the Companies and Allied Matters Act: (Cap 59, Laws of the Federation of Nigeria, 1990).

2. Whether the legislative appointment, constitution and empanelling of a Standing Tribunal of inquiry into the Sale and Acquisition of Shares in Eko Hotel in 1995 lately made by subsidiary/delegated legislation under the hand of the Governor of Lagos S…