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Association says vibrant arbitration system in maritime sector will attract quality investors

Dr Omogbai Omo-Eboh, President, MAAN
The Maritime
Arbitrators Association of Nigeria (MAAN) says vibrant national maritime
arbitration system will attract quality investors to the industry and
fast-track its development.

 Dr Omogbai
Omo-Eboh, the President of the association, said this in an interview with the
News Agency of Nigeria (NAN) in Lagos. 
Omo-Eboh said
that the association adopted the strategy, as arbitration offered desired
solutions and confidentiality in maritime disputes 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 still 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 it in
the maritime industry. 
“So, towards that
advocacy and enlightenment campaign, we usually organise an annual seminar
called the ‘Practical Maritime Dispute Resolution’ Seminar.
“In addition to
that, every year as well, we always organise a maritime arbitration workshop as
part of objectives to enlighten the public and to 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 counsel or representatives, and the arbitrator or the arbitrators.”
 According to Omo-Eboh, a workable dispute
settlement mechanism will increase the confidence level in the industry.
He said that
numerous investors consider industrial dispute resolution seriously, as it
engendered confidence and protection of investments.
 Omo-Eboh stated that the association was
working to ensure that more people utilise the facilities available for
arbitration.

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