There is no doubt that arbitration has become a conventional
vehicle for the resolution of commercial disputes in Nigeria.
Hence, this article seeks to educate the reader on the
following:
a. What is arbitration;
b. Stages of arbitration;
c. Recognition and Enforcement of Award; and,
d. Application to set aside an award.
1. WHAT IS ARBITRATION?
Arbitration means a commercial arbitration whether or not
administered by a permanent arbitral institution. Section
57 of the Arbitration and Conciliation Act, 1988 (
LFN 2004)
It is a private dispute resolution mechanism established for the
settlement of disputes by a neutral third party (the Arbitrator) or
panel of neutrals referred to as the Arbitral Tribunal.
