The Nigerian Institute of Chartered Arbitrators (NICArb) has disclosed that it’s 2021 annual conference will come up with a roadmap for dispute resolution under the African Continental Free Trade Agreement (AfCFTA).
The conference will also discuss and proffer solutions in the wake of COVID-19 disruptions on how to improve the use and practice of Arbitration/ADRs to create an environment that attracts investment and investor confidence.
In a statement, the institute said the commencement of the AfCTA in January 2021 led to the assessment of preparation made so far by the Nigerian government and Nigerians to engage the process, emphasising dispute resolution.
“However, the loophole here is that AfCFTA DSM gives the capacity to bring actions under the Agreement only to states. Thus, private actors (non-State actors) are eliminated from the dispute settlement arrangement. This seems problematic because the major operators in Free Trade Agreements (FTAs) are private persons. The agreement’s leaning towards a state-state arbitration poses some questions, which shall be addressed by erudite scholars at the Conference,” it read in part.
It further stated that an overview of the current trends in the digital economy and their implications for consumer protection and competition policies will form part of discussions just as there will be reviews of emerging issues in consumer protection in electronic commerce (e-commerce), in particular, how it relates to legal and policy frameworks, consumer empowerment and business guidance, enforcement, dispute resolution and redress.
The Nigeria Institute of Chartered Arbitrators (NICArb) is the premier arbitration institute in Nigeria with the mission to promote the administration and development of arbitration and Alternative Dispute (ADR) practice in Nigeria.
The theme of this year’s conference holding from November 18 is ‘Disruption and the new normal in arbitration/ADR in Africa: a way forward.’
