NICArb Urges FG To Release National Arbitration Policy

The Nigerian Institute of Chartered Arbitrators (NICArb) has called on the Federal Government to release the long-awaited National Arbitration Policy to enhance regulation and promote best practices in arbitration across the country.

Speaking during a press conference in Lagos ahead of the NICArb 2024 Annual Arbitrators Conference, the institute’s Registrar/CEO, Shola Oshodi-John, emphasized the importance of the policy in ensuring transparency, accountability, and efficiency in arbitration processes, from initiation to enforcement of awards.

Oshodi-John highlighted that the policy’s implementation would:

• Strengthen Nigeria’s arbitration framework.
• Promote the speedy resolution of disputes.
• Foster confidence in arbitration as a tool for dispute resolution in commercial and investment matters.

The upcoming conference, themed “Transformation and Interventions: The Evolving Trends in Arbitration & ADR Practice in Africa,” will take place in Lagos under the leadership of NICArb President, Fabian Ajogwu, SAN. It will explore critical issues such as:

1. The role of government in resolving investor-state trade disputes in Africa’s extractive industries.
2. The impact of the Protocol on Investment to the AfCFTA on investor-state disputes and trade integration in Africa.
3. The influence of artificial intelligence on arbitration and other alternative dispute resolution (ADR) mechanisms, including ethical considerations and professional standards.

Oshodi-John noted that the event would provide a platform for knowledge sharing, networking, and collaboration among arbitration practitioners, legal experts, government representatives, and international organizations.

According to Oshodi-John, the conference will also delve into:

1. Opportunities for advancing arbitration and ADR in Africa.
2. Strategies to address grievances, defuse tensions, and maintain stability using effective dispute resolution mechanisms.
3. Accountability for businesses operating in Africa, particularly concerning human rights violations.

“The NICArb conference is a highly anticipated gathering that brings together legal professionals, arbitrators, mediators, academics, and industry experts from across Africa. It promises to be an enlightening experience, dissecting global trends in business and alternative dispute resolution,” she stated.

The conference will serve as a platform for exchanging insights and integrating ADR practices into Africa’s socio-political and economic frameworks, fostering stability and economic growth across the continent.