Arbitration Practices

This article explores the increasing relevance of Alternative Dispute Resolution (ADR) in Nigeria’s commercial landscape, focusing on arbitration and mediation as efficient alternatives to litigation. It evaluates the legal framework, recent judicial pronouncements, and the Arbitration and Mediation Act 2023 while highlighting the benefits of ADR in preserving business relationships, ensuring confidentiality, and reducing dispute resolution costs.

Admittedly, arbitral immunity is not novel in the development and practice of arbitration, however, it must be noted that prior to the enactment of the extant Arbitration and Mediation Act 2023

Notwithstanding the above provision, it is noteworthy that where a party applies to the court for enforcement of an arbitral award, it is not absolute that the court shall grant the application

As part of the novel provisions of the AMA, 2023, the Act exempts “misconduct of an arbitrator” as a ground for challenging arbitral awards, which is significant in dealing with the gullible act of parties seeking injunctions to restrain arbitral proceedings.