“Work of ART” or “Tool for the ARTful Dodger”?
The Award Review Tribunal mechanism in the Arbitration & Mediation Act 2023
In the coming months much will be said about the Arbitration & Mediation Act 2023 (“the AMA 2023”). Nigeria’s new federal arbitration law modernises arbitration practice in Nigeria with the purpose of making it more efficient and effective. It reverses certain judicial principles which are perceived to be anti-arbitration, updates arbitration practice to incorporate recent reviews of the UNCITRAL Model Law and the UNCITRAL Arbitration Rules and includes special procedural rules to fast-track arbitration-related litigation.