However, this does not mean that parties cannot start negotiation and settlement of the terms on which the transaction is to be hinged before applying for the Minister’s approval e.g. preparing a deed of assignment. Parties would not be expected to apply for the Minister’s approval without settling and agreeing on the terms related to the transaction; likewise the Minister would not be expected to give approval to a transaction the terms of which are not known to him. See Dickson v. The Solicitor-General of Plateau State (1974) 5 SC 21 (1974) NSCC (Vo19) 268; Labaran Nakyauta v. Ibrahim Maikima (1977) 6 SC 51 and Savanah Bank Ltd. v.A.O. Ajilo (1989) All NLR 26 (1989) 1 NWLR.
— Wali, JSC. Rockonoh v. NTP (2001) – SC.71/1995