Gareth Mills and John Olatunji write for African Law & Business on Nigeria's new ADR landscape
Earlier in the summer of this year, the National Assembly of the Federal Republic of Nigeria delivered on its commitment to revamp the legal framework for resolving commercial disputes by arbitration and mediation in Nigeria, by replacing the Arbitration and Conciliation Act 1998 with a new regime.
Now that the New Act has had some months to “bed in” it is clear that the statutory changes, some of which are discussed below, are going a long way towards increasing Nigeria’s position as an alternative dispute hub for the sub-Saharan region.
In an article for African Law & Business (ALB), Gareth Mills, Partner and John Olatunji, Associate, both in our commercial dispute resolution team, explore the notable changes concerning arbitral proceedings. They come to the conclusion that:
Although the success of the New Act will largely depend on its further implementation over time, it is a significant improvement on the previous statute and is in line with internationally recognised principles.
Read their opinion piece in ALB here.
