The Nigerian Institute of Chartered Arbitrators (NICArb) has called for a federal law that would harmonise legislations by state governments on arbitration in order to grant such laws wider national application.
The NICArb made the statement in a communiqué at the end of its, 2021 annual conference and investiture award ceremony with the theme: “Disruption and The New Normal in Arbitration/ADR- A Way Forward.”
The communiqué issued by the Registrar/Chief Executive Officer of NICArb, Shola Oshodi-John, identified the need for statutory reform of the Arbitration and Conciliation Act (ACA), with the specific goal of narrowing the scope of the courts’ intervention in the arbitration process.
It said: “There is a need for statutory reform to the ACA with the specific aim of narrowing the scope of courts’ intervention in the arbitration process.
“Even though the most recent arbitration statute in Nigeria, the…
Source: Thisday Newspaper