LACIAC is situated within the purpose-built International Centre for Arbitration and ADR in Lekki, Lagos. Justice Atilade, represented by Justice Adenike Coker, said most commercial cases were referred to ADR as soon as they were filed at the court’s registry. She added that the judiciary also initiated the Settlement Week in which commercial cases were quickly resolved out of court. The LCCI President, Dr. Nike Akande, noted that settling commercial disputes through the court could be frustrating, tortuous and time-consuming. “That is why the idea of providing an ADR platform was conceived by the chamber a few years ago. “Our belief is that investors will be more comfortable with ADR than the conventional court processes. “It is our hope that with adequate support, LACIAC will play a significant role in the promotion of Nigeria as an arbitration hub on the African continent. “I, therefore, encourage all members of the LCCI and indeed the entire business community to incorporate the LACIAC arbitration clauses in their contracts,” she said. The Chairman, LACIAC Board of Governors, Mr. Babatunde Fagbohunlu (SAN), said a situation where a commercial case lasts for over 10 years in court was not healthy for the economy. “In the United Kingdom, you can walk into a court and there is only one case listed for the day, but in Nigeria, a judge may have over 30 cases to deal with in a day,” he said. Fagbohunlu said there was a need for reorientation of institutions, lawyers and legislators, among others, on the need to use ADR in resolution of commercial disputes.]]>