Third Party Funding in Nigeria seated arbitrations


While I am yet to firm up on the title, the journal article will focus on the imperatives for third party funding (TPF) in Nigeria seated arbitrations. The outline will amongst other things, examine the existing legal frame work for TPF in Nigeria arbitrations in comparison with the position in UK, South-Africa, Singapore and Hong Kong particularly in light of recent infrastructural projects by China in the region of the two latter countries. The article will contain a short abstract (not more than 150 words) and will also trace the jurisprudence of TPF while also explaining the policy reasons for TPF. Sources (i.e. legislation and case laws amongst others should be footnoted using the Oxford Standard for Citation of Legal Authorities. While the Arbitration and Conciliation Act is the federal law governing arbitrations in Nigeria, other States such as Lagos State have domesticated the federal law with major or minor amendments. Also, there is a bill pending before the National Assembly (the legislative arm of government) which seeks to amend the federal law. The article should also examine and analyse the provisions of the bill as it relates to TPF and whether proper and urgent legislative, regulatory or judicial (through case laws) intervention is needed. A strong conclusion should be made about the importance and necessity of TPF in Nigeria seated arbitrations and the need for the country to join other progressive jurisdictions in this trend.