Lagos is the industrial powerhouse of Nigeria, a bustling hub for established businesses and entrepreneurs alike. – It has a vibrant multicultural society with a rich cultural history.
Arbitration has been used formally as a form of dispute resolution in Nigeria since the early 20th century. The applicable arbitration law in Nigeria is the Arbitration and Conciliation Act 1988 (Laws of the Federation of Nigeria 2010, Cap A18) (The “ACA”). The ACA mirrors the UNCITRAL Model Law and incorporates the UNCITRAL Arbitration Rules.
A few states in Nigeria have passed their own arbitration legislation, including Lagos State, with the Arbitration Law 2009 of Lagos State. Lagos prides itself on being home to a multitude of award winning law firms operating internationally. There are excellent facilities and services to support arbitration at the International Centre for Arbitration and ADR – the only purpose built alternative dispute resolution centre in Lagos.
Arbitration in Lagos continues to enjoy increasing patronage in Nigerian commercial disputes. Parties and arbitrators are increasingly confident in the arbitral institution and the courts are increasingly supportive of the arbitral process. LACIAC is looking to further the trend through the Arbitration in Lagos Project.
Arbitration conducted with LACIAC is done so under the LACIAC Rules of Arbitration 2015.
An overriding objective (Article 1) applies to members of the Court, the arbitral tribunal, parties and party representatives alike. By choosing to resolve a dispute under the Rules, all parties involved agree to operate with integrity and in accordance with the ethical standards of conduct imposed by Article 1. LACIAC, through its Rules, aims to enshrine its philosophy of transparency and efficiency. The Rules further prescribe the freedom of choice of counsel in arbitration proceedings regardless of nationality.
In line with the ethos, the Rules include: