Arbitration Process In Nigeria: A Step By Step Guide

There has been an increase in the use Arbitration process in Nigeria to resolve complex commercial disputes. The resurgence in the use of arbitration process in Nigeria is as a result of users' dissatisfaction with the slow pace and inefficiency of the normal court system in Nigeria. The normal court system in Nigeria is known to be unsuitable for the resolution of complex commercial disputes because of the overwhelming case load in the courts and the lack of specialized knowledge to deal with commercial disputes that sometimes require judges who are vast in the technical aspects of those disputes.

What is Arbitration process?

alternative dispute resolution Arbitration process is an alternative dispute resolution mechanism whereby parties to a dispute instead of going to court for the resolution of their dispute, appoint or agree to appoint a neutral third party know as an arbitrator to hear their dispute and render an award that will be final and binding on the