Role of Arbitration in Resolving Corporate Disputes: Nigeria and United States of America as Case Studies
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Date
2025-12
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Lead City University, Ibadan
Abstract
Arbitration as an Alternative Dispute Mechanism has made positive impact in resolving Corporate Disputes globally. In Nigeria, the enactment of the Arbitration and Mediation Act (AMA) 2023 has made significant advancement in the legal framework for resolving corporate disputes in Nigeria and has harmonised both arbitration and mediation as central mechanisms for corporate conflict management. This research has appraised the AMA 2023 by understanding its role in resolving corporate disputes, reducing judicial interference, clarifying the jurisdiction of national courts, ensuring procedural consistency, promoting party autonomy and institutional support. The problems identified are as follows: lack of institutional readiness, inability of companies to adapt to the new regime, inadequate professional expertise, lack of unified and codified rules in arbitral proceedings, partiality and lack of independence and inadequate training and research has jolted confidence among willing parties in the corporate world. This research examined the new development made in the AMA 2023 and how the Act has benefitted the government, foreign and domestic companies in Nigeria. This study aimed at understanding the concepts and historical background of Arbitration, made a comparative analysis between the Arbitration and Conciliation Act (ACA) 2004 (now repealed) and the AMA 2023, outlined the innovations in the AMA 2023 and provided an analysis on how the new development has improved arbitral process. This study also analysed the legal and institutional framework of Arbitration in Nigeria and offered comparison between the AMA 2023 and the Federal Arbitration Act
1988 as amended of the United States of America. The research method adopted is the doctrinal and comparative method. This research provided recommendations to the Nigerian government, Arbitration Institutions and Professional Associations.
Keywords: Arbitration, Arbitral Award, Corporate Dispute, Dispute Resolution, Investor- State Dispute
Word Count: 271
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Keywords
Arbitration, Arbitral Award, Corporate Dispute, Dispute Resolution, Investor- State Dispute
Citation
Kate Turabian