Corporate Governance, Commercial Arbitration And Resolution Of Corporate Disputes In Nigeria: Losses Or Lessons?

There is no doubt that companies do have conflicts with other companies or internal conflicts within the company. In essence, conflict resolution is inevitable in corporate governance and arbitration has proven to be one of the means through which it can be resolved. This paper seeks to evaluate the importance and efficiency of Alternative Dispute Resolution (ADR) mechanisms, particularly arbitration in corporate governance and in solving corporate governance disputes, its growth and success rate compared to the traditional court systems. The paper further assesses the capability and effectiveness of the system in, and against corporate disputes. It also identifies its weaknesses as a whole and within the framework for corporate governance, while identifying and recommending international best practices for its use in resolving corporate governance disputes in Nigeria when juxtaposed with other jurisdictions. In addition, the paper stresses the importance of having a convenient business dispute resolution mechanism in order for businesses to thrive even in times of adversity, while also maintaining a cordial relationship, important to corporate governance in order to achieve the goals and objectives of the investors. The paper adopts the doctrinal methodology of research through analysis of opinion of authors, case laws, and statutory provisions relating to the subject, which are examined for the purpose of further analysis and contribution to existing body of knowledge. The paper recommends among others the holistic adoption of arbitration in resolving corporate governance from litigation process as it is done in sports disputes by organisations such as FIFA in order to maximise the gains arbitration brings to the commercial investment.