Law • Created February 24, 2015 04:00

Lagos arbitration court ready – Fashola

Governor Babatunde Fashola gave the hint yesterday during a tour to the site of the project noting that plans have been concluded by his administration to commission  the facility for public use.Answering questions from journalists shortly after inspecting the court building, Governor Fashola explained  that the compelling need to resolve trade disputes locally rather than […]

Lagos arbitration court ready – Fashola
Lagos arbitration court ready – Fashola

Governor Babatunde Fashola gave the hint yesterday during a tour to the site of the project noting that plans have been concluded by his administration to commission  the facility for public use.
Answering questions from journalists shortly after inspecting the court building, Governor Fashola explained  that the compelling need to resolve trade disputes locally rather than travelling to Europe or America informed the siting of the centre in Lagos.
He said: “This is the place for dispute resolution. It is the Lagos Arbitration Centre. We could save a lot of money and create employment through this court.
“We lose a lot of fund to other countries in terms of arbitration. When dispute arise in the country, people preferred places like Paris or London. There is nothing  special in those places.
“All we need is to create a centre that will have the necessary reputation. We have the personnel because some of the best arbitrators in the continent are Nigerians.  We also have the economic capability for the arbitration because a lot of construction, developmental and Public Private Partnership,( PPP) projects are ongoing and dispute from there could be resolved here.”
Governor Fashola stressed that through the initiative, Lagos  State government has created a local destination for the sub-region, saying  the court will be the destination for arbitration for West Africa.
“We already have the international recognition for this. All that is left is to complete the project. We have received some arbitration funds also. And the next three weeks, the building will be ready for commissioning. We have at least 11 rooms here,” he governor said.

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