Judicial approach to public policy and its effect on the enforcement of foreign arbitral awards in Nigeria

Abstract

The growth in the number of international commercial transactions between parties from diverse legal backgrounds and jurisdictions necessitates the establishment of an appropriate mechanism to deal with inevitable conflicts arising from such international contractual relationships.1 International commercial arbitration allows parties to settle their disputes in a dispassionate matter. International commercial arbitration has become the most essential alternative means by which transnational commercial differences can be settled. Parties are allowed to select an unbiased arbitrator, an expert in the area of dispute who has the requisite authority to decide the dispute. The advantage of reaching a speedy decision well as the confidential benefits in the arbitration system have driven a large number of investors to make desirable efforts to give consideration to arbitration by inserting arbitration clauses in their commercial contracts