DISPUTE RESOLUTION MECHANISMS IN THE NIGERIAN CAPITAL MARKET: AN OVERVIEW
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Date
2016
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FACULTY OF LAW, EBONYI STATE UNIVERSITY, ABAKALIKI, NIGERIA
Abstract
n the last two decades, property damage estimated at 150-1000 billion dollars resulted from natural disaster worldwide. Tropical cyclones have caused worldwide losses of an estimated
60-70 billion dollars annually. The comparable loss for landslide exceeds 50 billion dollars.
These figures merely hint at the scale of loss due to natural disasters. This work discussed the human, economic and environmental impact of natural disasters, the role of science, social measures and law in advising local authorities in checkmating the recurrent incidences. The paper also discussed the legal and policy tools for reducing vulnerability, enhancing emergency preparedness and response, and increasing environmental protection. In doing this, we deployed the doctrinal, analytical and descriptive methods of research. While data was collected via both primary and secondary sources; to wit, statutes, conventions, books, journals, case laws and other documentary sources. We also displayed pictures and tables to describe the monumental nature of the subject under discussion. At the end, it was found that due to the global rise in temperature due to climate change, all countries are at risk of risk disaster devastation. We also found that natural hazards do not recognise geographical boundaries or national territories. Our finding also. revealed that as a result of industrialisation, developed countries suffer more monumental economic loss to disasters than developing countries. Sadly, it was shocking to know that the magnitude of disasters globally appears to defy foreseeable solution. Ironically, disaster reduction success only showed that heavy losses at the hands of nature are not completely inevitable. It was concluded that while it may not be completely possible to eradicate the occurrence of all natural hazards, but the disaster they generate can often be minimised, if our proffered recommendations are followed.
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Keywords
Dispute Resolution, Mechanism, Capital Market, Overview.
Citation
Vol 7, Issue 1