Governing Council
September 23, 2019
ADR Countdown
September 30, 2019

CMC Calls on FG

CMC CALLS ON FG TO SEEK AMICABLE SOLUTION TO THE ISSUES SURROUNDING THE ARBITRATION AWARD OF $9.6 BILLION AGAINST THE NIGERIAN GOVERNMENT BY A BRITISH ARBITRATION TRIBUNAL.

 

he Institute of Chartered Mediators and Conciliators (ICMC) has been following the lingering controversy surrounding the business relationship between the Federal Government of Nigeria and Process and Industrial Development Ltd that led to the award of $9.6 Billon by a British Arbitration Tribunal against the Federal Government of Nigeria and in favour of P&ID and the subsequent litigation before the High Court in the United Kingdom where the recognition and enforcement of the Award is being sought.

 

 

ICMC notes, with concern, that parties are currently digging into their positions and expending humongous amount of money in defence of their positions. As a corporate citizen of Nigeria and a professional Peacebuilding/Dispute Resolution Institute, with the mandate to promote alternative means of dispute resolution in commercial transactions with a view to restore parties to their pre-dispute relationships, ICMC calls on the Federal Government of Nigeria and the representatives of the P&ID Ltd to, without further delay, commence mediation of the dispute in good faith with a view to amicably resolve the dispute and restore the mutually beneficial relationship created by the contract subject matter of the dispute.

 

The Institute is suitably positioned to assist in the resolution of this dispute professionally, and we HEREBY offer our PRO BONO mediation services as our contribution to the resolution of this impasse.

 

 

The Institute of Chartered Mediators and Conciliators (ICMC) is offering her services and expertise to the disputing parties to jointly seek an amicable and enduring resolution to this impasse.

 

The Institute believes that with GOOD FAITH from both parties, this dispute can be amicably resolved.

 

 

Signed,
EMEKA OBEGOLU J.P.
President, ICMC.

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