The Lagos Court of Arbitration (LCA), in collaboration with
the Investment Climate Facility for Africa (ICF), Chevron Nigeria, Stanbic
IBTC, White and Case, and Africa Finance Corporation (AFC) has assembled legal
experts, entrepreneurs, investors and the government in a West Africa Regional
Alternative Dispute Resolution (ADR) conference to reiterate the need to timely
resolve commercial dispute through effective mediation and arbitration to
promote economic growth.
In his welcome address at the conference, Lagos State
Governor, Mr. Babatunde Fashola (SAN), represented by the Attorney General and
Commissioner of Justice, Lagos State, Mr. Ade Ipaye urged the business community
to embrace Alternative Dispute Resolution for quick resolution of contractual
disputes. According to him, the emergence of the LCA is due to non-avoidance of
disputes in business dealings and the increasing need for an international
arbitration and acceptable alternative dispute resolution center.
Presenting the Keynote Address, Mr. Arnold Ekpe, Director,
Sovereign Wealth Fund, stated one of the challenges of the Arbitration process
in this part of the world as ‘Africans’ themselves. He said, “It is time for
Africans to change their mindset by believing in arbitration process, thereby
creating the right environment to build confidence in the minds of investors
that the available process is reliable in the resolution of cases.”
Also speaking at the conference, Mrs Bimpe Nkontchou,
Director, Lagos Court of Arbitration and Partner, Addie & Co Solicitor,
London, said, “It is known that Arbitrators of African origin are
under-utilised in the regional and international arbitration circuit. Time has
come for us to appoint skilled African arbitrators and use arbitration
institutions on the continent.”
Nkonchou further added, “ADR is far more affordable than
litigation. Arbitration is distinct from other alternative dispute resolution
(ADR) mechanisms, which include mediation, conciliation and early neutral
evacuation. Though arbitration occupies center stage in the global dispute
resolution market, these other mechanisms are equally important and in some
cases, equally effective and much less expensive than arbitration.”
Nankunda Katangaza, Head of International Policy at the Law
Society of England & Wales, who was recently named one of Britain's most
influential black people, said "I am delighted to be part of what I
considered the most exciting and progressive institutional developments in
Nigeria and Africa. The Law Society is pleased for the collaboration because of
the positive effects the LCA will have in speedy resolution of disputes and
improvement of business environments. The LCA presents opportunities for
members of the Law Society to work closely with Nigerian counterparts in
dispute resolution by joining the panel of neutrals.’’
Present at the conference were several distinguished local
and international legal and business experts, including Federal High Court
Justice, Justice Rita Ajumogobia; former Vice President, External Affairs,
Tullow Oil Plc, London, Rosalind Kainyah; Commissioner, Market Competition and
Rates, Nigerian Electricity Regulatory Commission (NERC), Eyo Ekpo; General
Counsel, Chevron Nigeria, Eyitemi Ned Mojuetan;
Registrar, Mauritius International Arbitration Court (MCIA), Duncan
Bagshaw; amongst others, who all harped on the many advantages of Alternative
Dispute Resolution over litigation.
The LCA West Africa Regional ADR Conference was proudly
supported by The Law Society of England & Wales, Chartered Institute of
Arbitrators, Chartered Institute of Arbitrators Nigeria, and the International
Senior Lawyers Project (ISLP), and is the center’s way of further creating and
maintaining awareness of ADR and reaching the primary end users, consisting
members of the public, owners of small and medium scale businesses and
executives of large corporate and multinationals.
This is good for our economy and entrepreneurs.
ReplyDelete