Following the sudden death of General Sani Abacha on 8th June, 1998, General Abdusalami Abubakar, the Chief of Defence Staff was appointed as the new Head of State and Commander-in-Chief of the Armed Forces. The regime was therefore a child of circumstance.

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.