Background
The Abuja International Hotel Limited (“AIHL”) was incorporated in 1980 with an initial Authorised share capital of N37 million ordinary shares of N1.00 each. The Authorized share capital was later increased to 100 million ordinary shares of N1.00 each; in order to accommodated International Hotel Management Services Ltd. (“IHMS”) but the deal could not be consummated because IHMS could not pay for the allotted shares.
