JUXTAPOSING PARADIGMS OF THE INTERNATIONAL COURT OF ARBITRATION, PARIS AND LONDON COURT OF ARBITRATION IN NIGERIA

Abstract

This paper examines the applicability of the jurisdiction of the International Court of Arbitration of the International Chamber of Commerce (ICC), Paris, and the London Court of International Arbitration (LCIA) in Nigeria. It analyzes the legal basis for the recognition and enforcement of arbitral awards rendered under these institutions within the framework of the Arbitration and Mediation Act 2023, the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 (New York Convention), and the principle of party autonomy.

The paper argues that the jurisdiction of the ICC and LCIA is contractual rather than territorial, deriving from the parties’ agreement to submit their disputes to arbitration in accordance with the institutional rules of the chosen arbitral body. Adopting a doctrinal research methodology, the study examines relevant statutes, judicial decisions, international conventions, institutional arbitration rules, and scholarly literature.

The study identifies several challenges affecting the effective operation of ICC and LCIA arbitration in Nigeria, including the high cost of institutional arbitration, delays in enforcement proceedings, and practical obstacles to efficient dispute resolution. It concludes that Nigeria possesses a robust legal framework that recognizes and supports the application of ICC and LCIA arbitration. The paper recommends strengthening judicial capacity, improving the efficiency of arbitral award enforcement, and maintaining a consistent pro-arbitration judicial approach to enhance investor confidence and position Nigeria as a leading arbitration-friendly jurisdiction in Africa.