A joint stock company or a public limited liability company is that form of business organization in which the liability of the shareholders is limited to the amount of capital they contributed and the unpaid part of the capital allotted to them. It must have a minimum of seven members but no maximum membership is prescribed for it.

The 1999 Constitution which ushered in the Fourth Republic of Nigeria came into force on 29th May, 1999. It is perhaps the most criticised constitution in the political history of Nigeria as it has been the butt of criticism from different factions of the ruling class.