The concluding event of the ǼLEX Arbitration Week 2025 – the ǼLEX Arbitration Brunch 2025, held on 31 October 2025 at the Lagos Continental Hotel, Lagos. The event brought together arbitrators, arbitration counsel, and leading in-house counsel for an insightful discussion on emerging issues in arbitration, seeking to address important questions from individuals who play a pivotal role in shaping legal strategy and managing risk in leading corporate organisations.
The event commenced with introductory remarks by Mrs. Oluwaseun Philip-Idiok, a senior associate in the Arbitration Practice Group, followed by a welcome address by the Managing Partner of ǼLEX and Partner in the Arbitration Practice Group, Mr. Adedapo Tunde-Olowu, SAN. In his address, Mr. Olowu, SAN highlighted the significance of the ǼLEX Arbitration Week and expressed the Firm’s appreciation to the participants for taking time out of their busy schedules to attend the concluding event.
The ǼLEX Arbitration Brunch 2025 featured an engaging fireside chat with the esteemed Dr. Adesegun A. Akin-Olugbade, OON, the former executive director of the Africa Finance Corporation (AFC), who opened the session with a brief overview of emerging issues in international arbitration. He discussed, among other issues, the growing role of artificial intelligence (AI) in arbitration, regarding AI as a tool rather than a decision-maker. He also noted the attendant issues of confidentiality and appropriate use. Dr. Akin-Olugbade’s opening note also highlighted other emerging matters, such as Environmental, Social, and Governance (ESG) disputes, third-party funding of arbitral proceedings, and the impact of third-party funding on security for costs.
Is Arbitration Truly Faster, Cheaper, and More Flexible?
The discussion commenced with Prof. L. F. Anga, SAN, posing a pertinent question: Is arbitration truly a faster, cheaper, and more flexible process, or merely a prelude to litigation? Dr. Akin-Olugbade responded by sharing his personal experience as a party in arbitral proceedings. Despite obtaining an arbitral award in his favour, he encountered prolonged delays in enforcement, resulting in a depreciation of the award’s value. Prof. Anga, SAN, added that recent cases, such as the P&ID appeal, demonstrated how swiftly arbitration-related appeals could be concluded when conducted efficiently.
Appointment of Arbitral Counsel
On the issue of appointment of arbitral counsel, Dr. Akin-Olugbade underscored the importance of engaging competent practitioners with demonstrable experience in arbitration, rather than selecting Senior Advocates of Nigeria (SANs) solely for their rank. On the issue of diversity and inclusion, he noted the importance of these considerations and observed that female arbitrators often display exceptional skill, composure, and judgment.
ESG Disputes
On the emergence of ESG disputes, Dr. Akin-Olugbade noted the importance of ESG from a conceptual and philosophical standpoint. However, from a political standpoint, he observed that ESG standards appeared to be used by Western nations as instruments for obtaining a competitive advantage, thereby making compliance appear compulsory for developing countries to maintain this competitive advantage.
Third-Party Funding
On the subject of third-party funding, Dr. Akin-Olugbade acknowledged its conceptual soundness but cautioned against its potential misuse. He distinguished between benevolent funders, who genuinely assist parties lacking the resources to pursue arbitration, and vulture funders, whose interest is driven purely by financial gain.
Problematic Arbitral Outcomes
Addressing concerns about arbitral awards that place some states on the brink of bankruptcy, Dr. Akin-Olugbade stressed the importance of appointing qualified and reputable arbitrators, party adherence to arbitral timelines, and respect for the integrity of the arbitral process. Prof. Anga, SAN, added that client cooperation by providing counsel with complete and accurate facts to present a good case was integral to ensuring successful outcomes.
Artificial Intelligence
On the use of AI, Dr. Akin-Olugbade observed that while AI presents opportunities to improve efficiency in arbitral proceedings, such as in drafting pleadings and awards, it must always remain subject to human control and oversight.
The Future
Looking to the future, Dr. Akin-Olugbade urged lawyers to remain proactive and forward-thinking, adapting to the inevitable changes that AI and global complexity will bring to client expectations and law firm operations.
Nigeria
Concluding on a hopeful note, Dr. Akin-Olugbade expressed optimism about Nigeria’s future, encouraging Nigerians to actively contribute to the improvement of their immediate environments as a means of driving national progress.
Comments/Questions
During the interactive session with in-house counsel, a participant inquired about adapting ESG frameworks to Nigeria’s local context. Dr. Akin-Olugbade responded that success would depend on customising the experience by establishing measurable performance indicators and realistic standards.
Another attendee inquired about how boundaries could be established to prevent negative impacts on the individuals and communities. In response, Dr. Akin-Olugbade noted that there were standards and mechanisms which independent experts could utilise to determine compliance with ESG frameworks.
A final comment from the audience referenced Dr. Akin-Olugbade’s earlier remarks on challenges in arbitration, noting that the Arbitration and Mediation Act 2023 had narrowed the grounds for setting aside arbitral awards, while the Supreme Court Rules 2024 introduced provisions empowering courts to impose costs personally on counsel for frivolous appeals. It was observed that these innovations could potentially enhance the efficiency of arbitration and enforcement proceedings in Nigeria.
The event concluded with closing remarks from Emmanuel Okoronkwo and Rehoboth Juwah, senior associates in the Arbitration Practice Group, and wrapped up with light conversations over brunch.