The Nigerian Institute of Chartered Arbitrators (NICArb) has called on the Federal Government to release the National Arbitration Policy to strengthen regulation for best practice in the country.
The institute stated that if the policy was implemented, it would promote best arbitration practices and aid the speedy resolution of disputes.
Shola Oshodi-John, registrar/CEO of the Nigerian Institute of Chartered Arbitrators (NICArb), stated this in Lagos at a press conference ahead of the NICArb 2024 Annual Arbitrators Conference slated this month in Lagos.
She said that the National Arbitration Policy, when fully implemented, would ensure transparency and accountability in arbitration, from the commencement of arbitral proceedings to the delivery of the award and its enforcement.
Oshodi-John stated that this year’s annual international conference, which will be hosted by NICArb President and Chairman of the Governing Council, Fabian Ajogwu, would address issues on the role of government in investor/state trade disputes in the African extractive industry, consider lessons learned and the way forward.
She said the conference will also be focused on the impact of the Protocol on Investment to the AFCFTA on the settlement of Investor/State disputes and trade integration in Africa.
Read also: Need for National Policy on Arbitration in Nigeria.
According to her, participants will also consider the impact of AI on the practice of Arbitration and other ADR mechanisms, examine potential professional and ethical considerations and how they can be addressed, and encourage collaboration and networking among Arbitration and ADR Practitioners, Regional Institutions and organisations, legal institutions, governments, and international bodies.
She said that participants will be able to identify opportunities for knowledge sharing, information exchange and partnership which will advance Arbitration and ADR in Africa,
“The NICArb conference is a highly anticipated gathering that brings legal and other professionals, arbitrators, mediators, academics, and industry experts from around Africa. With the theme ‘Transformation and Interventions: the Evolving Trends in Arbitration & ADR Practice in Africa’, this year’s conference promises to be an engaging and enlightening experience for all attendees.
“The conference will meticulously dissect the global right for business in Africa and the need to begin for other nationals that do business in Africa to become accountable when there are human rights violations. It will deliberate on how effective alternative dispute resolution can address grievances, defuse tensions, and maintain stability within nations and regions.
“The event will reveal the nuances of integrating these practices into the African socio-political fabric by providing a platform for experts, scholars, and practitioners to exchange insights,” she said.
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