Senate Passes Bill To Enact Arbitration, Mediation Act

The Senate, yesterday, passed a bill to enact the Arbitration and Mediation Act to provide for a unified legal framework for the settlement of commercial disputes.

Also, passed were there other bills for concurrence from the House of Representatives by the chamber after a clause-by-clause consideration by the Committee of the Whole.

The bills include Federal Medical Centre Ogoja, Cross-River State (Establishment) Bill, 2022; Federal Medical Centre Igboora, Oyo State (Establishment) Bill, 2021; and Advertising Regulatory Council Bill, 2022.

The four bills for concurrence were sponsored by the Senate Leader, Yahaya Abdullahi (Kebbi North). The Senate Leader, in his lead debate, said the Arbitration and Mediation Act, 2022, sought to repeal the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria, 2004. He disclosed that the piece of legislation recognised and enforced the New York convention on foreign arbitration awards to any award made