LIMITATION OF ACTION FOR ARBITRAL AWARD ENFORCEMENT IN NIGERIA

Abstract

The enforcement of arbitral awards is crucial to the effectiveness of arbitration as a dispute resolution mechanism. In Nigeria, the Arbitration and Mediation Act 2023 has introduced significant changes to the limitation of action to enforce arbitral awards. This paper examines the new limitation regime and its implications for enforcing domestic and foreign arbitral awards in Nigeria. It provides an overview of the arbitration framework in Nigeria, discusses the legal nature of arbitral awards, and analyzes the procedural requirements for enforcement. It focuses on the limitation of action under the ACA 2004 and the innovations introduced by the Arbitration and Mediation Act 2023, which provides a 10-year limitation period. The paper also includes a comparative analysis of the enforcement of arbitral awards in England, Canada, the United States, and South Africa, highlighting lessons for Nigeria. It concludes with recommendations for effectively implementing the new limitation regime to promote the use of arbitration in Nigeria.