EXIGENCY FOR COMMERCIAL COURT ESTABLISHMENT TO EASE ENFORCEMENT OF CONTRACT IN NIGERIA

ABSTRACT

Corporate disputes often exist among the players in the field of business transactions occasioned by high octane scheming, near apocalyptic competitiveness and combustible mix of profiteering emotions. Many corporate organizations operating in Nigeria prefer to go abroad for quick commercial adjudication of litigations that ensue with their clients or contract partners. The Nigerian adjudicatory architecture and procedure is complex and porous allowing litigants to manipulate the wheel of justice to a long and complex route; and so, cannot accommodate the exigency of commercial dispute resolutions.  

This article aims at examining the narrative of commercial disputes resolution in Nigeria, factors responsible for delay in commercial dispute resolution, and the consequences of such delay to the Nigerian economic growth. The article suggests urgent legislative piece to establish a specialized commercial court in Nigeria having both civil and criminal jurisdiction with efficient regulatory framework to enhance virile enforcement of civil and criminal contracts.

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UNILAG Law Review, (2020) Volume 4 Edition 1

About the Authors

Bolarinwa Levi Pius is a currently a doctorate student at the Faculty of Law, Obafemi Awolowo University, Ile-Ife, Osun state, Nigeria. He can be contacted via e-mail: levibolarinwa@gmail.com or call 08182928678.

Dr. Adetokunbo Ogunfolu Ph.D. is the Head of Department of Business Law, Faculty of Law Obafemi Awolowo University, Ile-Ife, Osun state, Nigeria. He can be contacted through 08055478397.