Arbitration has been globally accepted as an amicable dispute
settlement mechanism. Over the years, arbitration has attained a
high level of influence as an effective mechanism for resolving
commercial and trade disputes in the Nigerian justice system. The
reason for this is not farfetched as arbitration by its nature is
relatively faster in the dispensation of justice compared to
litigation. Arbitration is attractive to parties to a dispute for
several reasons ranging from confidentiality to neutrality and
flexibility.
At the end of arbitral proceedings, successful parties would be
granted a final and binding decision known as an arbitral award,
which can only be set aside by an order of a competent court on the
grounds stated in the Arbitration and Conciliation Act1988.
See Sections 29 and 30 ACA. The courts with
jurisdiction over applications for enforcement of arbitral awards
are the Federal High courts and High courts of states. See
Sections 29,30 and 57 ACA. The
