I. F. OGBUAGU, J.S.C (Delivering the Leading Judgment): This is an appeal against the decision of the Court of Appeal, Lagos Division (hereinafter called "the Court below"), delivered on 8th July, 1999 allowing the appeal of the 1st set of respondents and setting aside the ruling of Hunponu-Wusu, J., of the High Court of Lagos State, Lagos Division delivered on 17th January, 1997 holding that it has the jurisdiction to entertain the suit brought by the appellants and therefore, struck out the motion on notice brought by the 1st set of respondents asking it to decline jurisdiction to entertain the said suit.
Dissatisfied with the said decision, the appellants have appealed to this court on seven (7) grounds of appeal. The parties filed and exchanged their respective briefs of argument. In the amended brief of the appellants, they have formulated five (5) issues not seven (7) as stated in the 5th respondent's brief for determination, namely:
"2.01 Issue No. I
Whether or not the appella…