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| MRS PRISCILLA OGWEMOH, FCARrb, (GC) | PROF AKIN IBIDIAPO -OBE, FCArb, (GC) | MRS CLARA UMEANO, FCArb, (GC) | MRS SHOLA OSHODI-JOHN, FCArb, Reg/CEO | MR BENJAMIN OBIADEGUN, ACArb, (PC) | MRS FUNMI OBISAN, FCArb (PC) | MR SIGISMUND JOSEPH, FCArb (PC) | MRS CHINYERE ONOURAH, MCArb (PC) - DEPUTY REG | MR OLUSEGUN AFOLABI - BABAMINSA, ACArb (PC) |
The Nigerian Institute of Chartered Arbitrators (NICArb) held a press conference on Wednesday, July 10, 2019, to address salient issues around its 40th Anniversary themed ‘Building a Culture of Arbitration and Sustainable Institutions in West Africa’. The 40th Anniversary Conference and Investiture, which will be held on 14 - 15 November, 2019, at the Eko Hotel and Suites, Victoria Island, Lagos, provides a forum for the intellectual discussion of key issues affecting Arbitration in West Africa. It is focused on yielding practical solutions, necessary to encourage the adoption of Arbitration and Alternative Dispute Resolution (ADR) in the West African sub-region. The conference promises a line-up of renowned regional and global speakers who are experts in the chosen subject areas, and will feature panels made-up of technical experts and breakout sessions for intensive exploration of the chosen subject areas.
Present at the briefing were Governing Council Members including Dr. Olisa Agbakooba SAN, FCArb; Professor Akin Ibidapo Obe, FCArb; Mrs. Priscilla Ogwemoh FCArb; Mrs. Clara Umeano FCArb; Mrs. Shola John-Oshodi, FCArb (Registrar/CEO, NICArb). Also, in attendance were Management and members of NICArb’s 40th Anniversary and Annual Conference Planning Committee.
Mrs. Shola Oshodi-John, the Registrar/CEO of the Institute called on the Federal Government to leverage the regional economic and monetary integration through the signing and implementation of AfCFTA, and the African Union single currency initiative, in positioning Nigeria (and the West African sub-region) as a major hub for International Arbitration. The Registrar advised the Federal Government to take proactive measures in ensure AfCFTA’s arbitration arrangements are favourable to Nigeria’s interest, whilst making efforts at domesticating the Agreement in Nigeria.
The Institute advised the Federal Government of Nigeria to revisit the Arbitration awards against it, in the case of the Federal Government of Nigeria v Process and Industrial Developments Limited (P & ID). NICArb also offers to provide technical assistance through its crop of seasoned and experienced membership base in pioneering initiatives for corrective negotiations. It further congratulated Professor Fabian Ajogwu, SAN, FCArb, a Vice President of NICArb for leading the team that secured the Arbitral award of $1.69BN in favour of the Nigeria Government in Atlantic Energy Drilling Concepts Nigeria Limited, Atlantic Energy Brass Development Limited v Nigerian Petroleum Development Company (NPDC) matter, in the dispute on the Brass, Forcados assets.
The briefing ended with a call to the members of the Arbitration (ADR) community and the general public, to take advantage of the forthcoming annual regional conference in November, and Register on events.nicarb.org. Further to this, NICArb called on the current National Assembly to revisit The Arbitration and Conciliation Act (Repeal and Re-enactment) Bill and ensure the passage of the original bill (proposed by arbitration practitioners) into law, as Nigeria positions to leverage AfCFTA.
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