Group Managing Director of Access Holdings Plc., Herbert Wigwe, has urged Nigerian legislators and legal practitioners to embrace globalisation.

He said globalisation remains adaptable to foster global trade and international investments.

Wigwe stated this in his keynote at the 2023 yearly Law Week event organised by Lagos Branch of the Nigerian Bar Association (NBA).

The event, with the theme, “Facing the Future: Law in a Globalised Economy,” aimed to assess the evolution of legal practice and explore the crucial role of the law in an increasingly interconnected global economy.

Wigwe, who emphasised the significance of standardising laws across different countries to facilitate seamless international trade, said: “With diverse legal systems in each country, standardisation of laws are imperative to facilitate international trade and investment.

“The globalised economy needs legal systems that offer certainty and predictability to businesses. It is essential to establish robust legal frameworks and effective enforcement mechanisms that ensure parties can rely on the law to resolve cross-border disputes and protect their rights.”

The group managing director, while recounting his experience as a banker and leader of Access Holdings’ expansion across Africa, Asia, Europe, and the Middle East, highlighted the profound impact of globalisation on businesses and economies across continents.

He also emphasised the pressing need for legal systems to adapt to the rapid pace of technological advancements, the challenges of cross-border transactions, and the complexities of international regulations.

“As we navigate this new reality of globalisation, we must embrace it wholeheartedly. Only by embracing change and actively working towards harmonising legal systems can we fully leverage the benefits of a scaled economy,” Wigwe stated.

The NBA Lagos branch law week brought together distinguished leaders and intellectuals from the legal profession and various sectors to engage in thoughtful discussions surrounding the theme of the event.

At the event, Lagos State Governor, Babajide Sanwo-Olu; Chief Judge of the state, Justice Kazeem Alogba; National President of the NBA, Yakubu Maikyau (SAN) and the state’s House of Assembly Speaker, Mubashiru Obasa, delivered goodwill messages.