The President of the Chartered Institute of Arbitrators (CIArb) Nigeria Branch, Chief J. Akingbola Akinola SAN has commended the National Assembly for passing the Arbitration and Mediation Bill into law.
The Bill, which now awaits the Assent of President Muhammadu Buhari, will provide a unified legal framework for the settlement of commercial disputes.
In a statement signed by Akinola and Branch Secretary, Mrs. Josephine Akinwunmi, the globally renowned Institute stated that it was delighted with the passage of the Bill which process started since 2005.
They also applauded the Institute’s committee led by Mrs. Funmi Roberts (C.Arb) which worked tirelessly to ensure the passage of the Bill.
The statement noted: “We are pleased to announce that on Tuesday, May 10, 2022, the Senate passed the Bill to Repeal the Arbitration and Conciliation Act and enact the Arbitration and Mediation Act.
“The process began in 2005 with the inauguration of the National Committee on the Reform and Harmonisation of Arbitration and ADR Laws by the Honourable Attorney General of the Federal Republic of Nigeria, Chief Bayo Ojo SAN, C.Arb.
“The Committee was chaired by the late Honourable Justice Olakunle Joseph Orojo, C.Arb. At the end of its deliberations in 2006, the Committee produced two Bills, the Federal Arbitration and Conciliation Bill and the Model Uniform Arbitration Law for the States, which were unfortunately not passed.
“In 2017, the Arbitration Community, led by the Chartered Institute of Arbitrators, Nigeria Branch also set up a Committee for the Reform of the Arbitration and Conciliation Act 1988.
“The efforts of the Committee have culminated in the passage of the Arbitration and Mediation Act.
“Our deepest gratitude goes to the Committee led by Mrs. Funmi Roberts, C.Arb who worked tirelessly to ensure the passage of the Bill.
“Other members of the Committee are Chief Bayo Ojo, SAN, C.Arb; Prof. Paul Idornigie, SAN, C.Arb; Mr. Mohammed Dele Belgore, SAN, C.Arb; Mrs. Adedoyin Rhodes-Vivour SAN, C.Arb; Mrs. Miannaya Essien, SAN, C.Arb; Mr. Adeyemi Candide-Johnson, SAN, FCIArb; Mr. Olasupo Shasore, SAN, FCIArb; Mr. Babatunde Fagbohunlu, SAN, FCIArb; Mrs. Sola Adegbonmire, C.Arb; Mr. Richard Akintunde, SAN, C.Arb; Mrs. Oyinkansola Badejo-Okusanya, FCIArb; Mr. Seyilayo Ojo, C.Arb; Mr. Isaiah Bozimo, FCIArb; Mr. Henry Chibor, FCIArb; Mr. Adewale Jones, FCIArb; Mrs. Jean Chiazor-Anishere, SAN, ACIArb; Mr. Emmanuel Dike FCIArb; Mrs. Kemi Eweje FCIArb, and Mrs. Caroline Etuk.
“We also thank our esteemed Chairman, Chief J. Akingbola Akinola SAN, C.Arb, and Mr. Yakubu C. Maikyau, SAN, FCIArb for their invaluable efforts to ensure our inroad into the National Assembly leading to the eventual passage of the Act and also all those who contributed their time and resources towards the passage of the Act.
“We now await assent to the Act by the President of the Federal Republic of Nigeria.”
SOURCE: LOYAL NIGERIAN LAWYER