It is a privilege to be invited by my Lord, the Chief Judge of the Federal High Court, Honourable Justice Ibrahim Auta, OFR, to speak at this year’s conference of Judges. I would like to share with you my thoughts on a subject, whose importance should be brought to the front burner as it rightfully […]
COMMERCIAL ARBITRATION IN NIGERIA: LAW & PRACTICE (Third Edition)
I am delighted to have been asked to write the foreword to the third edition of this book, “Commercial Arbitration in Nigeria: Law & Practice.” There is no doubt that Professor Ajogwu, SAN, has, in putting together this book, shared his wealth of knowledge and expertise on arbitration which has acquired over the years.
It is well-known that alternative dispute resolution (ADR) mechanisms gained prominence as a result of the inefficiencies that characterise litigation – cost of protracted litigation, possibility of appeal with its attendant costs and uncertainty about the outcome of litigation. ADR thus developed as a dispute resolution mechanism aimed at resolving commercial disputes in a timely and resource saving manner. Arbitration has fast developed into a popular ADR mechanism such that one can locate an arbitration clause in almost every serious commercial agreement.
Parties to commercial agreement now prefer to refer disputes to arbitral panels rather than pursue litigation and this has led to an increase in the amount of commercial arbitrations conducted in Nigeria yearly. Given the popularity of arbitration in our time, a book of this nature is quite useful and important because it provides a guide to parties involved in arbitral proceedings on various aspects of an arbitration, from the point of commencement to the delivery of the award.
Having provided a background and contextual analysis of commercial arbitration in Nigeria in the first two editions, the third edition of this book amongst other things, addresses the current negative trend of ‘appealing’ against arbitral awards by way of applications to set aside arbitral awards. The author takes a critical look at this development and sets out recommendations on measures that need to be put in place to curb this trend. This edition also considers the rising use of guerilla tactics, that is, unconventional and disruptive behavior in international arbitrations; and the author proffers solutions that help to stem the evolving deviation from the intendment and spirit of arbitration.
In all, I congratulate the learned Senior Advocate for putting together this well-researched book on the law and practice of commercial arbitration in Nigeria. I therefore commend this book to all persons who seek a comprehensive text on the subject of commercial arbitration in Nigeria.
HON JUSTICE AMINA ADAMU AUGIE, CON
Justice of the Supreme Court of Nigeria, Abuja
August 30 2019