Arbitration vital tool for commercial dispute resolution says Prof. Ufot

By Josephine Solanke and Kudirat M. Habeeb

A Senior Advocate of Nigeria Prof. Dorothy Ufot, on Tuesday described arbitration as an Alternative Dispute Resolution (ADR) mechanism, vital for tackling commercial disputes globally.

She said that arbitration remains effective and trusted especially in a tech-driven dispensation.

Ufot, chairperson of the Arbitration and ADR Commission of the International Chamber of Commerce (ICC) Africa, said this at a media parley on the 10th ICC Africa conference holding in Lagos.

The theme of the 10th conference is “A Decade of Excellence: Shaping the Future for International Arbitration”

According to her, International arbitration is a preferred mechanism for resolving disputes, noting that Nigeria now occupies a ‘pride of place’ in international arbitration.

She raised concerns that while foreigners come to do businesses in Nigeria, they are not afraid of societal vices like kidnapping, but when dispute arises from these commercial transactions, they are taken abroad for resolution.

“We are not chosen to participate in the resolution of same as they are taken elsewhere.

“So we say we want to be a part of the resolution, and we have stood up and fought for our rights and now, they realise that Nigerians are intelligent people and have something to offer,” she said.

She noted that there is the realisation that when you are involved in the process of arbitration, then you have a say.

“We trained ourselves, we attended international conferences and this has kept us ready,” she said

Ufot noted that the ICC headquaters in Paris, said that Nigeria has been tried, tested and trusted and consequently, decided it should host the 10th ICC African edition.

Speaking on the importance of arbitration, co-chair of the conference, Mrs Chiazor Anishere (SAN), noted that since disputes could occur in businesses, it is important to have trained arbitrators that could intervene and treat such disputes.

According to her, the court dockets are full with litigation, and so, many commercial disputes can easily be settled by the ADR technique.

“By the time the conference is over Nigeria will take its pride of place in dispute resolution in the country,” she said

On her part, Secretary General of ICC Nigeria, Mrs Olubunmi Osuntuyi, said that following ongoing registration, over 30 countries of the world will be present at the conference.

The News Agency of Nigeria (NAN) reports that the 10th edition of the ICC conference will run from June 3, until June 5 in Lagos.

The conference organised in collaboration with the Nigerian Bar Association (NBA), will explore cross-border commercial disputes and arbitration in Africa.(NAN)(www.nanews.ng)

Edited by Sandra Umeh