By Jimitota Onoyume

The Federal Government has been urged to update the nation’s   arbitration laws to conform with international   best practices.

Making the appeal in Port Harcourt at this year’s   conference of Chartered Institute of Arbitrators, Nigeria branch, Chairman of the body, Mrs Adedoyin Rhodes-Vivour, said the laws had become obsolete and were discouraging investors from coming to the country.

She said if the nation was to continue to retain her place as an investment hub, there was urgent need for government to do a comprehensive review of all laws limiting the nation’s attractiveness as an arbitration seat.

“A modern arbitration law should include provisions on multiple parties, consolidation of proceedings, concurrent hearings, emergency arbitrator proceedings, enforcement of interim measures/procedural orders, enable a more effective framework in terms of speed and efficacy of enforcing arbitral awards and avoiding delays in arbitration applications before the court.

A modern arbitration law ought to take cognisance of modern formats of entering into agreements such as emails and other modern means of communication,” she said.