ADR experts and LCA users welcome takeoff of the ICAA
Arbitration and Alternative Dispute Resolution (ADR) experts and consumers in Nigeria have greeted the establishment of the International Centre for Arbitration & ADR (ICAA) by the Lagos Court of Arbitration (LCA) with great optimism.
Speaking at the 2nd Annual “LCA Day” held at the newly minted and newly inaugurated ICAA in Lekki Phase One Lagos, Sadiq Adamu, Assistant General Counsel & Company Secretary at Exxon Mobil Nigeria noted that the timing for an institutional framework for ADR like the LCA couldn’t have been better suited.
“The ICAA is set to be the standard venue for dispute resolution and growing local capacity in Nigeria,” he said. Noting also, that the LCA has a unique role in raising the bar of ADR practice in Nigeria.
Giving an outlook of the ICAA and how the LCA can become attractive to industry users, Senior Counsel at GE Oil & Gas Sub-Saharan Africa, Ozim Ifeoma Obasi said: “With this new Centre and the value being created here for the business community, the LCA is ready to transition from a Nigerian to a global ADR institution; projecting Lagos as a safe destination and focusing on speed, early decisions, quality appointing procedures and a diverse panel of neutrals (arbitrators or mediators).”
In his address, LCA President and former Attorney-General & Commissioner for Justice, Lagos State, Olasupo Shasore, SAN described the ICAA as the “home for arbitration,” noting that other arbitral organisations such as the Chartered Institute of Arbitrators, Nigerian Branch; Chartered Arbitrators Nigeria; Maritime Arbitrators Association Nigeria and Lagos Chamber of Commerce International Arbitration Centre (LACIAC) would be located within the building.
Shasore who also chaired the LCA Annual General Meeting (AGM) further noted that, “The LCA is an ADR facilitating entity focused to create value for the entire commercial private sector”.
Megha Joshi, LCA Executive Secretary/CEO, in her opening remarks announced plans for the development of “industry-based user groups” within the LCA. She urged members to participate in committees towards developing schemes and focused ADR knowledge workshops for businesses and lawyers.
According to her, the LCA DAY was aimed to fulfil statutory requirements to members in accordance with the Lagos Court of Arbitration Law 2009, while providing an interactive platform for the members to be part of the ADR dialogue in Nigeria.
She noted that “Arbitral centres are built over a long period of time, and
the story of the LCA thus far shows increasing and ongoing awareness in the very relevant areas of judicial support, private sector awareness and a
slowly changing litigation orientated legal community towards the merits of using ADR. We are very confident of the LCA ICAA’s bright future”.
The event which was sponsored by the Investment Climate Facility for Africa (ICF) also witnessed the ratification by the general meeting of newly appointed members to the LCA Board of Directors, including May Mbu, Sadiq Adamu, Babatunde Fagbohunlu (SAN), Ucheora Onwuamaegbu, and the Honourable justice Ayo Phillips, a retired judge.
Also re-appointed to the board are Mr. Adeyemi Charles Candide-Johnson (SAN), Babajide Ogundipe, Fabian Ajogwu (SAN), Funke Adekoya (SAN), Doyin Rhodes-Vivour, Funmi Roberts, Bimpe Elebute Nkontchou and Abiodun Oluwa.
The LCA is a non-governmental, non-profit, private sector driven institution. It is independent of regulation, direction or control by any branch of government. This unique model allows the LCA to be a viable hub for arbitration and mediation services, and vanguard for alternative dispute resolution (ADR) for the region. It currently has nearly 200 members comprising lawyers, arbitrators, mediators, experts, academics, entrepreneurs, law firms, and commercial and trading organisations. On the other hand, the “LCA Day” is a forum for members to network, share
knowledge and experiences, and gain ADR-relevant information.
The meeting, which held in the prestigious grand Taslim Elias QC function room of the ICAA, was the first LCA hosted event since it was formally handed over to the LCA by Lagos State Government.