The Vice-Chairman of International Chamber of Commerce (ICC) Nigeria, Mrs Dorothy Ufot (SAN), has called for more Nigerian arbitrators to be included in disputes involving resident multinationals and host community.
Ufot made the call in an interview at the ICC Nigeria and Alternative Dispute Resolution (ADR) meeting held on Friday at Victoria Island, Lagos.
The News Agency of Nigeria (NAN) reports that the quarterly meeting of the ICC/ADR meeting was hosted by Candide-Johnson Law Practice, which recently rebranded from Strachan Partners.
Speaking on the progress reports of arbitration in Nigeria, Ufot said that practitioners had made significant inroads across the globe.
On the resolution of ICC Nigeria, Ufot said that with the quality of arbitrators in Nigeria, there was no need to engage foreigners for settling disputes in multinational companies domiciled in the country.
‘We do not want investors coming to Nigeria to take our oil and gas and other natural resources, then when disputes rise, they will
claim that we do not have the competence of arbitration.
‘We are kicking against this; we want Nigerians, Africans to be appointed as arbitrators to resolve local and international disputes.
‘We now have all the banks in Nigeria as members of ICC Nigeria and also enjoin many to join us as well,’ she said.
Ufot, who is also the Chairman of Arbitration and Commission Nigeria, said the country was among the 170 members of the ICC adding that the commission would like to enlist more qualified arbitrators.
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‘We want more members who are Nigerians to join the ICC and benefit from the organisation.
‘Arbitration is one of the biggest most importance of the ICC and we have about 170 member countries which Nigeria is one of them.
‘It is interesting to know that after the second world war, the founders of ICC referred themselves to as merchant of peace and that if there is peace, the business world will function well.
‘So, ICC is number one in the
world and also have representatives in the United Nations and our members are happy with our commitments for the professional progress of the organisation.’
Ufot explained that international and domestic arbitration is one of the preferred mechanism for the resolution of business disputes.
She noted that before now, Africans were considered not to have what it took to resolve disputes in international climate, as they were not regarded as experts.
‘Today, Nigeria now boasts of several qualified arbitrators who have been appointed into serious and complex disputes in all fields.
‘This is the reason we gather quarterly to give updates on what is going on in the international circle, while we are proud to say that more of our members have bagged international appointments.
‘The faces of Nigerian arbitrators are now seen all over the world because it is a big business,’ she said.
The host, Mr Olayemi Candide-Johnson,
emphasised the need to have a more holistic approach to arbitration as a pathway of resolv
ing disputes in all areas of life especially in businesses.
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According to him, there is nothing more natural than arbitration as it is what has been in existence since time immemorial.
He said: ‘Arbitration is backed by the law to resolve issues and diffusion of tensions in businesses.
‘Before going to the court, we can resolve our issues, because we go to our elders to also resolve issues.
‘If we failed to resolve issues effectively, it will create impediments to the growth of the economy.
‘Also, we need to take the pressure off the court and instead engage in arbitration which is more cheaper, simpler and void of complexity.’
NAN reports that highlights of the ICC Nigeria meeting includes reading of reports and also the announcement about the change of leadership at ICC and ICC Nigeria.
Source:News Agency of Nigeria