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Access to Justice in Commercial Transactions and Resolution of Commercial Disputes

Introduction

Access to justice is a fundamental principle in any society that seeks to foster economic growth and maintain the rule of law. In the context of commercial transactions, ensuring access to justice is of paramount importance to promote trust, investor-confidence in the business environment. Nigeria, as Africa’s largest economy, has made significant strides in recent years to improve its legal framework for commercial transactions and the resolution of commercial disputes. However, challenges persist, and there is room for further enhancement to ensure efficient and effective application of justice in the commercial sector. This article will analyse the issues involved and make recommendations for the benefit of all stakeholders in the economy and the practice of justice.

Ensuring Access to Justice

Nigeria’s economy is diverse, with a wide range of commercial activities spanning various sectors, including agriculture, manufacturing, oil and gas, telecommunications, and finance, among others. These commercial transactions are the lifeblood of the nation’s economy, contributing to employment, revenue generation, and economic development. To ensure the smooth functioning of commercial activities, it is imperative to establish a legal framework that facilitates fair and efficient business dealings. It is essential to have legal framework that supports business environment. In the case of Nigeria, the following can contribute to prompt and effective resolution of commercial disputes to enhance access to justice:

  1. Continuous judicial reforms that touch on effective case management, reduced backlog of cases, and the use of technology Creation of specialized commercial courts for the expeditious resolution of disputes.
  2. Creation of specialized commercial courts for the expeditious resolution of disputes, like jurisdictions such as Lagos State have done.
  3. Improvement of physical, technological, and other legal infrastructure in line with continuous judicial reforms as current infrastructure does not meet the demands of stakeholders and the needed speed for time-bound commercial transactions.
  4. Well prepared agreements and other legal documentation in commercial transactions to enforce the will and best interests of parties. It behoves lawyers, as stakeholders, to prepare standard legal documents that bring the best outcomes from every transaction and protects the parties.
  5. Effective deployment of ADR mechanisms for more specialized and tailored solutions, offering businesses the flexibility to resolve disputes privately and faster. It must be noted, however, that applying productive arbitration principles begins from having well drafted arbitration clauses in agreements, and it behoves parties and lawyers to ensure this happens.
  6. Better training of judges and legal practitioners in commercial law and dispute resolution techniques to further enhance the quality of adjudication.
  7. Access to qualified legal representation through legal aid programs to help individuals and small businesses access legal services and ensure a level playing field in litigation.

As we move forward, we must get serious about decongesting the overcrowded court dockets, and building more courthouses or specialized commercial courts will help in this regard and restore the confidence of investors in the expeditious conclusion of cases. Also, capacity building and continuous training of judges, lawyers, and ADR practitioners in commercial law and dispute resolution techniques, must be prioritized to maintain high standards of adjudication. Furthermore, legal awareness targeted at businesses and individuals must be executed decisively to bridge the current knowledge gap.

Conclusion

Nigeria’s progress in ensuring access to justice in commercial transactions and dispute resolution is commendable but faces several challenges. The establishment of specialized commercial courts, adoption of modern legislation, and promotion of ADR mechanisms have improved the business environment. However, the backlog of cases, high litigation costs, and lack of legal awareness remain significant hurdles. To enhance access to justice further, These issues must be addressed as recommended, through increased number of specialized courts, capacity building, legal education campaigns, and by simplifying legal procedures. It is equally important to address corruption within the legal system and foster trust in the business environment. These efforts will solidify Nigeria’s position as a prominent player in the African and global commercial landscape, attracting investments and promoting economic growth.

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