AN APPRAISAL OF RECOGNITION AND ENFORCEMENT OF ARBITRAL AWARDS BY THE INTERNATIONAL CENTER FOR SETTLEMENT OF INVESTMENT DISPUTES (ICSID) IN NIGERIA

📄 Project Abstract

Nigeria is in a continuous quest to attract foreign direct investment (FDI) in order to support and sustain a decent economic growth. These foreign investors being invited are as much interested in the methods available for dispute resolution as they are in every available guarantee on their investments. This dissertation appraises the recognition and enforcement of the International Centre for the Settlement of Investment Disputes (ICSID) Arbitral Awards in Nigeria. The dissertation has the ultimate aim of proposing ways through which Nigeria can re-affirm its commitment to ICSID, as well as foreign investors. The research adopts doctrinal methodology depending on both local and foreign literature on ICSID jurisprudence. The importance of recognition and enforcement comes from the fact that arbitration is considered to be of no value if its award is not enforceable. Bearing this in mind, the work argues that the more recognition and enforcement of arbitral awards are observed with min...