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A New Era for Arbitration in Nigeria: The Arbitration and Mediation Act 2023

Established national laws and a reliable judicial system are two features considered crucial by investors when seeking potential investment destinations. Investors often prioritize these factors to guarantee a profitable and risk-free investment. This also holds true for arbitration, as the 2015 Queen Mary International Arbitration Survey Respondents confirmed that the established formal legal infrastructure: the neutrality and impartiality of the legal system, the national arbitration law, and its track record for enforcing agreements to arbitrate and arbitral awards; plays a vital role in the selection of an arbitral seat. For more than thirty years, the Arbitration and Conciliation Act, 1988 Chapter A.18, Laws of the Federation of Nigeria, 2004 (ACA) was Nigeria’s primary legislation governing arbitration. However, new legislation was required to address the complexities and evolving needs of arbitration in the country and align Nigeria’s arbitration practices with international standards. On 26th May 2023, the Arbitration and Mediation Act 2023 (AMA) was signed into law by the President of Nigeria, signifying a significant milestone for arbitration and mediation proceedings in Nigeria. This blog reviews the AMA by focusing on the innovative developments and their importance to the attractiveness of arbitration in Nigeria. Some praiseworthy innovations in the AMA include new provisions on (a) mediation and enforcement of international settlement agreements; (b) recognition and enforcement of interim measures issued by arbitral tribunals, (c) award review tribunal, (d) consolidation of arbitrations and joinder of parties, and (e) third-party funding. Other provisions relate to emergency arbitration, the limitation period for enforcement of an award, and the definition of an arbitration agreement.

NEWS: 07.20.2023

The News and Events category publishes the latest News and Events relating to International Economic Law relating to Africa and the Global South. Every week, Afronomicslaw.org receive the News and Events in their e-mail accounts. The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law. News and Events with a Global South focus are also often included.

Afronomicslaw Academic Forum Guest Lecture Series: Issues Linked to the Recovery of Proceeds of Corruption and Stolen Assets

The Academic Forum is an inclusive and accessible forum that brings together undergraduate and graduate students as well as early career researchers from across the world interested in international economic law issues as they relate to Africa and the Global South. Its goals are to encourage and build core research skills in teaching, research, theory, methods and writing; developing content for Afronomicslaw.org and where possible to encourage authors to submit to the African Journal of International Economic Law; holding workshops and masterclasses on core research skills in teaching, research, theory, methods and writing; and organizing annual poster/essay competitions on international economic law issues.

CFP: International Conference on the Future of African Trade and the AfCFTA: Taking Stock of the Implementation of the AfCFTA: Continental Efforts, State Government and Private Sector Involvement

The sponsoring organizations of the International Conference on the Future of African Trade and the AfCFTA invite submissions and participant nominations for a collaborative exchange and discussion at a two-day hybrid conference to take place on November 9 and 10, 2023. The conference working language will be English and will include paper presentations on topics detailed below. It will also include working group discussions with a broad range of stakeholders, including, for example, business leaders, members of the judiciary, and representatives of non-governmental organizations, law reform agencies, policy makers, and other interested persons on topics related to African trade law.

NEWS: 07.14.2023

The News and Events category publishes the latest News and Events relating to International Economic Law relating to Africa and the Global South. Every week, Afronomicslaw.org receive the News and Events in their e-mail accounts. The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law. News and Events with a Global South focus are also often included.

Ninety Second Sovereign Debt News Update: South Africa Concludes $1 Billion Hydrogen Fund Agreement for the Implementation of the $8.5 Billion Climate Finance Pact

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.

The Promise and Perils of Human Rights for Governing Digital Platforms

The Global Transformations and Governance Challenges Initiative at Leiden University announces a new call for papers for an interdisciplinary workshop on:

The Promise and Perils of Human Rights for Governing Digital Platforms

NEWS: 06.07.2023

The News and Events category publishes the latest News and Events relating to International Economic Law relating to Africa and the Global South. Every week, Afronomicslaw.org receive the News and Events in their e-mail accounts. The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law. News and Events with a Global South focus are also often included.

Ninety First Sovereign Debt News Update: Macron’s Global South Climate Summit: Stepping up on (Private) Climate Finance to Climate Vulnerable Countries

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.

Ninetieth Sovereign Debt News Update: Transition at the Central Bank of Kenya: To Issue a US Dollar-Denominated Domestic Bond or Not?

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid.