Arbitration and Mediation Act, 2023
Click to download the Arbitration and Mediation Act, 2023
The Arbitration and Mediation Act, 2023 is an Act that repealed the Arbitration and Conciliation Act, Cap. A18, Laws of the Federation of Nigeria, 2004, and enacted a modern legal framework for the fair, efficient, and effective resolution of commercial disputes through arbitration and mediation. The Act also incorporates the provisions of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention) into Nigerian law and introduces a comprehensive statutory framework governing both domestic and international arbitration, mediation, emergency arbitration, third-party funding, and the recognition and enforcement of arbitral awards.
Click to download the Arbitration and Mediation Act, 2023
The Act was enacted by the National Assembly of the Federal Republic of Nigeria and received Presidential assent on 26 May 2023 and commenced operation on the same date. It ispublished in Official Gazette No. 207, Vol. 110 of 24 November 2023 as Act No. 74 of 2023.
Click to download the Arbitration and Mediation Act, 2023
The Act comprises 92 sections arranged into three Parts and supplemented by Schedules. Part I contains provisions relating to arbitration, including arbitration agreements, arbitral proceedings, interim measures, arbitral awards, third-party funding, and enforcement of awards. Part II establishes the legal framework for mediation, including mediation proceedings, confidentiality, settlement agreements, and the implementation of the United Nations Convention on International Settlement Agreements Resulting from Mediation (Singapore Convention). Part III contains miscellaneous provisions dealing with interpretation, transitional arrangements, repeal, and citation.
Click to download the Arbitration and Mediation Act, 2023
The objectives of the Act include promoting the fair resolution of disputes by impartial arbitral tribunals without unnecessary delay or expense; preserving the autonomy of parties to determine how their disputes are resolved; providing a unified legal framework for arbitration and mediation in Nigeria; strengthening the recognition and enforcement of arbitral awards and interim measures; aligning Nigeria’s arbitration and mediation regime with international best practices and treaty obligations; and encouraging efficient, cost-effective, and commercially attractive alternative dispute resolution mechanisms.
Click to download the Arbitration and Mediation Act, 2023
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