AN OVERVIEW OF CORPORATE DISPUTE RESOLUTION IN NIGERIA

Abstract

Nigeria is an endowed nation and a profitable destination for domestic and foreign investors. The country has a robust legal system and dispute resolution framework geared towards investor protection. Despite Nigeria’s population, land mass, mineral resources, and gas abundance, the country’s economy ranks behind the economies of South Africa, Egypt, and Algeria. On the global stage, Nigeria has not been able to attain its set goal of being among the twenty most developed economies in the world. This mismatch is a major source of concern for stakeholders and development scholars. Aiming for strong and resilient dispute resolution institutions that can bolster investor confidence, this article, essentially expository and deploying a doctrinal methodology, interrogated the legal framework on corporate dispute resolution mechanisms in Nigeria. The Constitution of the Federal Republic of Nigeria 1999 (CFRN), Companies and Allied Matters Act 2020, Banks and Other Financial Institutions Act 2020 (BOFIA), and the Investments and Securities Act 2025 (ISA) provided the primary sources of data, while existing literature and virtual resources provided secondary data. This paper found areas for improvement in the legal framework and recommended the amendment of section 6(5) CFRN to accommodate the Investments and Securities Tribunal; repeal of Part E, BOFIA on the Special Tribunal for Eligible Loans in Nigeria; and the amendment of section 352 ISA 2025 to expressly accommodate the SEC APC. The article further recommended a forensic internal inquiry by the Supreme Court into the causes of delays in cases before the apex court.