The Arbitration and Mediation Act (AMA) 2023 modernizes Nigeria’s ADR framework by adopting the UNCITRAL Model Law and ensuring the enforceability of arbitral awards. It introduces third-party funding, enhances confidentiality, and strengthens party autonomy.
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
The AMA represents a substantial development in the legal framework governing TPF. It expressly acknowledges the roles it plays in arbitration.
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.
