BusinessDay
Nigeria's leading finance and market intelligence news report.

FCTA to make Abuja arbitration centre for local, international contracts

The Federal Capital Territory Administration (FCTA) said it is committed to supporting the FCT High Court to make Abuja a Center of Arbitration for local and international contracts.

FCT Minister, Muhammad Bello made the commitment at the Valedictory Court Session in honour of Ishaq Bello, who retired as the Chief Judge of the FCT High Court in Abuja.

Bello noted that making Abuja such an arbitration centre would be of immense benefit to the FCT, considering the volume and importance of transactions that take place in the nation’s capital.

The Minister also pledged the support of the FCT Administration for the establishment of a Children and Young Persons’ Court, a project for which the retiring judge has great passion.

READ ALSO: Speaker warns Taraba people against violation of COVID-19 protocols

He lauded the former FCT Chief Judge for the establishment of the Alternative Dispute Resolution (ADR) option of justice dispensation helped in resolving many seemingly unresolvable disputes, particularly over land and property.

According to him: “Many of those cases, had they gone to full trial, most likely would have proven to be expensive, time-consuming and perhaps even left the litigants unsatisfied.

“This innovation has indeed saved the FCT Administration, corporate organisations and individuals a considerable amount of funds and time.”

Bello commended the retired Judge for the development of an almost unprecedented number of office complexes and residential buildings for judicial staff across the six area councils of the FCT during his tenure as the Chief Judge of the Federal Capital Territory.

Whatsapp mobile

Get real time updates directly on you device, subscribe now.