Institute of Arbitrators Conference begins October 24
In its effort to promote administration and development of arbitration and other alternative dispute resolution mechanisms in the country, Nigerian Institute of Chartered Arbitrators will hold its 2018 annual conference between October 24 and 25.
The conference with a theme, ‘Enforcement of Arbitral Awards and Economic Growth in West Africa, was designed to provide an opportunity for business owners, legal practitioners and other professionals to discuss the current mode of enforcing arbitral awards, and its impact on the economy.
Speaking last weekend in Lagos, the Registrar and Chief Executive Officer (CEO), Nigerian Institute of Chartered Arbitrators, Shola Oshodi-John, stated that the recent judicial decisions on arbitration related proceedings and awards, “presents a very disturbing trend that is unfavourable and producing negative impacts on the viability and growth of West African economy.”
She added that the trend has placed Arbitration and other Alternative Dispute Resolution mechanisms on a balance, as most awards have become subject of litigation in courts.
“Parties and practitioners are largely disadvantaged by this development and as such, the need to chart a path to address these challenges”, she said.According to her, the conference will serve as a platform for positioning West Africa as a preferred seat for arbitration proceedings as well as ameliorate the drawbacks associated with delays in enforcement of arbitral awards.
The President and the Chairman of Council, Aare Afe Babalola, is expected to chair the event while Minister of State, Petroleum Resources, Dr. Ibe Kachikwu and the President, Nigerian Bar Association (NBA), Paul Usoro (SAN), will deliver keynote addresses.