Body Urges Arbitration In Maritime Dev

The Maritime Arbitra
tors Association of Nigerai (MAAN) says vibrant national maritime arbitration system will attract quality investors to the industry and fast-track its development.
The president of the association, Dr Omogbai Omo-Eboh, said this in an interview, in Lagos on Friday.
He said that the association adopted the strategy, as arbitration offered desired solutions and confidentiality in maritime dispute for parties in dispute.
According to him, maritime regulators and operators need a lot of enlightenment and advocacy to encourage people to tap into the arbitration dispute mechanism.
“There is a lot of information dissemination we need to do to encourage people and to let them know that these are the things we do and how they can benefit from  the maritime industry,” he said adding that towards the advocacy and enlightenment campaign, the association usually organizes an annual seminar called the Practical Maritime Dispute Resolution Seminar.
He noted also that each year MAAN always organized a maritime arbitration workshop as part of objectives to enlighten the public as well as demonstrate the practical aspect of how maritime arbitration works.
“One of the major attractions of arbitration and what is central and cardinal to arbitration is that it is confidential. When you go to the court, you bring your disputes into the public domain, into public glare, whereas with arbitration, it is very confidential, it is between the parties, their counsels or representatives, and the arbitrator or the arbitrators,” he said.
Omo-Eboh remarked that because a workable dispute settlement mechanism would increase the confidence level in the industry, numerous investors consider industrial dispute resolution seriously, as it  engendered the confidence and protection of investments.