The Federal Government has reiterated the importance of arbitration as a tool most suitable to resolve international disputes when the parties to the disputes are not domiciled in the same country.
The Solicitor-General of the Federation and Permanent Secretary, Federal Ministry of Justice, Taiwo Abiogun stated this in his welcome address at the Seminar on International Commercial Arbitration and Advocacy, Skills for Government Lawyers Organized by the Federal Ministry of Justice in collaboration with Curtis, Mallet-Prevost Colt & Mosis LLP in Abuja.
The Solicitor-General of the Federation represented by the Director, Solicitor Department, Olushola Moore said that as a result of their inter-dependency, disputes are inevitable and parties elect amicable settlement, obtainable in a private and confidential nature with binding effects.
According to Abidogun, the elements are made up of alternative dispute resolution mechanism in the form of mediation, conciliation and arbitration.
He explained that commerce and business are the ancient activities which are the only avenue through which nations are interconnected with one another.
He equally highlighted that parties in commerce and business opt for arbitration because of its merits; such that, it is simple and flexible in that it guides itself on the will of the parties.
The Permanent Secretary also explained that arbitration gives quick remedy and provides confidential procedure which helps to establish calm atmosphere between the claimant, defendants and arbitrators encouraging amicable settlement.
He expressed hope that at the end of the seminar, participants would be better equipped not only in arbitration, but also in advocacy skill.
