In pursuit of the mission of the Nigerian Institute of Chartered Arbitrators (NICArb) to advance arbitration and alternative dispute resolution (ADR) practices in Nigeria, a pivotal memorandum of understanding (MoU) with the Chartered Institute of Taxation of Nigeria (CITN) was executed on Wednesday, April 3, 2024. The objective of this MoU is to bolster the utilization of arbitration and ADR in tax-related matters and to facilitate professional training in arbitration and ADR, thereby streamlining access to justice in tax-related disputes.
This partnership represents a significant milestone in addressing the prolonged delays often encountered in tax litigation within traditional court settings. By harnessing the effectiveness of arbitration, it is anticipated that a more expeditious and equitable resolution of tax cases will be achieved. This groundbreaking partnership is poised to have far-reaching implications, positively impacting both practitioners and stakeholders within Nigeria’s legal and business communities.
The NICArb Registrar/CEO says “NICArb is optimistic about the fruitful implementation of the MoU and anticipate the transformative outcomes it will bring to the forefront of tax administration and dispute resolution in Nigeria”.
For more information on NICArb and arbitration/ADR visit the nicarb official website, www.nicarb.org.
