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NICArb urges FG, private sector on effective practice in arbitration

Published

5 years ago

November 22, 2019

By Ifeoma Ikem

The Nigerian Institute of Chartered Arbitrators (NICArb) urged the Federal Government and the private sector on effective practice in arbitration in the country.

The position was made during the 2019 Annual Conference and Investiture Award Ceremony held in Lagos,with the theme“Building a Culture of Arbitration and Sustainable Institutions in West Africa”, the event was basically on the general legal and shared norms of culture affecting arbitration in building strong and enduring arbitral institutions in Nigeria and West Africa, especially in businesses and workplaces.

The keynote speaker at event senator Michael Opeyemi Bamidele, who is also the chairman, senate committee on judiciary, human rights and legal matters advocate the need of arbitration within the system.

This he noted should be base on a choice of individuals who would prefer arbitration as means of resolving their dispute.

According to the senator, “basically there is a renew version and a great commitment to our collective drive to strength the culture of arbitration within dispute systems world wide not only in Nigeria, our nation should not be left alone as far as we understand everything which it will done by all stakeholders includes government to encourage the growth and strengthen Nigerian justice..”

He added, that Nigeria need to do alot as part to achieve this in various artibratary institutions right to ensure all infrastructure are in place and prepare a forum that will make it interesting for people who chose to dissolve their dispute within Nigeria as avenue.

Also speaking at the event former Edo state governor prof. Osunbor Osaremen said arbitration is an alternative means of settling dispute between parties instead of going to court.

According to him one of the major advantage of using arbitration is because it less expensive

Other participants comprise stakeholders drawn from both the public and private sectors. Governor Babajide Sanwo-Olu of Lagos State, represented by the Commissioner of Justice, Moyosore Onigbanjo, while declaring the conference open, commended association for its work and leadership role in the arbitration community and encouraged the institute to keep up its good work

There were also discussions on the need for Nigeria to prioritise itself as a seat of arbitration, when entering into contracts with foreign investors. According to the Chief Executive Officer/Registrar, NICArb, Shola Oshodi-John, ‘if investors and companies can do business in Nigeria, then they should arbitrate in Nigeria’.

Vice President of the institute, Olisa Agbakoba, however, called on the government to show respect for the rule of law, provide infrastructure, such as electricity and ensure good quality of life, as important factors to drive Nigeria’s arbitral position.

The investiture/Presidential dinner for the induction of new members was also held, as NICArb honoured several distinguished personalities who have pioneered and promoted arbitration in Nigeria and globally. More than 600 associates, members and fellows were inducted into the Institute from across different professions and business.

news

Prophet Ikuru bombarded with calls from opposition parties to join them against 2027

Published

2 minutes ago

December 23, 2024

Sahara Weekly

By Collins Nkwocha

Prophet Godwin Ikuru has cemented his position as one of the leading prophets on the African continent, as an integral part of APC , the prophetic hall of fame never hid his love for the president, Ahmed Bola Tinubu whom he prognosticated into power and fought several battles for his sake

It’s alarming to discover that several political parties are wooing the handsome prophet against 2027 as they believe that his true potential is being underutilised in APC who left him without a portfolio,they kept bombarding him with numerous calls for him to leave the ruling party and join them against 2027

Despite the numerous calls and emissaries sent by the opposition parties,the prophetic hall of fame has kept faith with APC because of the unending love he has for Mr.president,Asiwaju Bola Ahmed Tinubu as he’s willing to remain with him despite all the happenings and odds.

news

Director General NSC, Bar. Bukola Olopade Extends Christmas Greetings to Christians in Abeokuta South and Across Nigeria

Published

2 days ago

December 21, 2024

Sahara Weekly

Director General NSC, Bar. Bukola Olopade Extends Christmas Greetings to Christians in Abeokuta South and Across Nigeria

By Solanke Ayomideji Taiwo

In a heartfelt message, The Director General of the National Sports Commission (NSC), Honourable Bukola Olopade, has extended warm festive greetings to Christians in Abeokuta South, Ogun State, and across Nigeria as the nation embarks on the joyous celebration of Christmas.

Recognizing the significance of this time of year, Olopade emphasized the essence of unity, love, and gratitude that the Christmas season embodies. He urged citizens to reflect on the virtues of compassion and generosity, which are particularly vital in fostering peace and harmony in communities.

“Christmas is a time for joy, reflection, and togetherness. It reminds us of the values of love and kindness, which are fundamental to our social fabric,” said Olopade. “As we celebrate this festive season, let us remember those in need and extend a hand of support to one another.”

The Director General of the National Sports Commission (NSC), Honourable Bukola Olopade, acknowledged the challenges that many have faced over the past year, including economic hardships and social unrest, yet he expressed optimism for the future. “In the spirit of Christmas, let us embrace hope and look forward to a brighter tomorrow. Our unity and resilience can overcome any challenges we face.”

Olopade also highlighted the importance of sports in promoting peace and national unity, noting that the NSC is committed to fostering an inclusive environment where all Nigerians can participate in sports and recreational activities. He encouraged communities to engage in sports events during the festive period as a means to strengthen bonds and celebrate togetherness.

As part of his Christmas message, Olopade called on everyone to prioritize the welfare of others, particularly the less fortunate. He urged individuals and organizations to consider charitable acts that can uplift those in need during this season of giving.

In closing, Bar. Bukola Olopade wished all Nigerians a Merry Christmas filled with love, peace, and joy. He expressed hope that the spirit of the season would inspire a renewed commitment to community service and cooperation among citizens.

As the festivities continue, the Chairman’s message resonates with the values of compassion, unity, and hope, encouraging all to celebrate the true meaning of Christmas.

Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

2 days ago

December 21, 2024

Sahara Weekly

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.