The Status and Legality of Recognition and Enforcement of Foreign Arbitral Awards in Nigeria

Abstract

Arbitral awards are the decisions of an arbitral tribunal. After these awards are made, the unsuccessful party is required to voluntarily and wilfully carry out the requirements of the award. Where he fails or refuses to do so, the successful party now moves to have it recognised and consequently enforced against the unsuccessful party. This process of making binding awards which ought to be recognised and enforced also applies to international commercial arbitration. As such, this work aimed at and analysed the recognition and enforcement of arbitral awards. The work also dealt with and identified the various laws guiding the recognition and enforcement of foreign arbitral awards, among others. The researcher discovered in the course of the work that several international conventions are applicable to Nigeria by virtue of its ratification. However some of the provisions as domesticated in Nigeria have been misunderstood and consequently misinterpreted due to some perceived mistake in the replication of the original provision. Therefore, the researcher made some recommendations which include the proactive approach by judiciary in the interpretation of these provisions by enquiring into the intendment of the draftsman and eventual amendment of the relevant statutes domesticating these conventions.