ROLE OF REGULATORY BODIES IN RESOLVING TRADE DISPUTES IN NIGERIA
Nigeria, as one of Africa’s largest economies and an active participant in international trade, faces its fair share of trade disputes. To ensure a fair and equitable resolution of these conflicts, regulatory bodies play a crucial role in maintaining stability, fostering trust, and promoting a conducive environment for trade.
These regulatory bodies serve as important intermediaries, overseeing and enforcing trade regulations, policies, and agreements. These organizations are responsible for monitoring trade practices, ensuring compliance with legal frameworks, and resolving disputes that may arise between parties engaged in trade activities. By establishing clear guidelines and mechanisms for dispute resolution, these regulatory bodies provide a structured framework to handle conflicts, thereby safeguarding the interests of both domestic and international traders.
Furthermore, the regulatory bodies operating in Nigeria are entrusted with the task of promoting fair trade practices, protecting consumers’ rights, and facilitating an efficient and transparent trade environment. The main regulatory bodies involved in trade dispute resolution in Nigeria include the Nigerian Customs Service (NCS), the Nigerian Export Promotion Council (NEPC), the Standards Organization of Nigeria (SON), the Ministry of Labour and Employment, Trade Unions and Employers’ Associations, Federal Competition and Consumer Protection Commission (FCCPC), National Industrial Court, among others.
1. Nigerian Customs Service:
The Nigerian Customs Service plays a vital role in regulating and facilitating international trade at the country’s borders. It ensures compliance with trade regulations, tariffs, and customs procedures, thereby preventing disputes related to duties, tariffs, and other cross-border trade issues. Additionally, the Nigerian Customs Service provides an avenue for traders to raise complaints or disputes through its dispute resolution mechanisms, which help in resolving conflicts efficiently.
2. Nigerian Export Promotion Council:
The Nigerian Export Promotion Council focuses on promoting Nigerian products and services in the international market. It plays a key role in addressing disputes related to export processes, documentation, and quality control. The council works closely with relevant stakeholders to mediate and resolve conflicts, thereby protecting the interests of Nigerian exporters and enhancing their competitiveness in the global marketplace.
3. Standard Organization of Nigeria:
The Standards Organization of Nigeria is responsible for ensuring product standards, quality, and safety in both domestic and international trade. By enforcing regulatory requirements and facilitating the resolution of disputes arising from product quality or compliance issues, the organization plays a critical role in maintaining consumer confidence and protecting the reputation of Nigerian products in the global market.
4. Ministry of Labour and Employment:
The Ministry of Labour and Employment oversees labour-related matters in Nigeria and facilitates dispute resolution through its departments, such as the Industrial Relations Department and the National Productivity Centre. The ministry provides mediation, conciliation, and arbitration services to promote amicable resolutions.
5. Trade Unions and Employers’ Associations:
Trade unions and employers’ associations represent the interests of workers and employers, respectively. These organizations play an essential role in collective bargaining, promoting harmonious industrial relations, and participating in trade dispute resolution processes.
6. Federal Competition and Consumer Protection Commission (FCCPC):
The Federal Competition and Consumer Protection Commission (FCCPC) created under the Federal Competition and Consumer Protection Act, 2019[5] plays a significant role in resolving trade disputes. The FCCPC is the regulatory body responsible for enforcing competition and consumer protection laws in the country. When it comes to trade disputes, the FCCPC serves as an important institution for addressing issues and ensuring fair trade practices. The steps FCCPC takes include: investigation; mediation and settlement; enforcement of FCCPA laws; advocacy and awareness of consumer rights and fair-trade practices; and finally, collaboration and cooperation with other regulatory bodies such as NCC, SEC or NERC, to address disputes that fall within their shared jurisdiction.
7. National Industrial Court[6]:
The National Industrial Court (NIC) is the specialized court in Nigeria responsible for handling trade dispute cases. The NIC has exclusive jurisdiction over labour-related matters and plays a crucial role in adjudicating disputes, interpreting relevant laws, and promoting fair labour practices. The Court will always recommend an out of Court settlement before delving into litigation of the Matter.