Third Party Funding for Arbitration in Nigeria: Yea or Nay?

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Our Joseph Onele, in this article, published by the Kluwer Arbitration Blog, examines the provisions of Article 41(2)(g), Article 50(1), and Article 83 of the Arbitration and Conciliation Act (Repeal and Re-Enactment) Bill 2017 (the Bill) against the concept of Third-Party-Funding (TPF).

 

He argues that the Bill, earlier passed by the Nigerian Senate, but now awaiting the concurrence of the House of Representatives of the Federal Republic of Nigeria, must go beyond the ‘implied’ or tacit recognition of TPF and include ‘express’ provisions to make TPF for Arbitration in Nigeria accord with best practices. He calls on the National Assembly to ensure that the Bill (to be passed) in the second legislative chambers contains substantive provisions allowing TPF in arbitration in Nigeria.

 

In concluding, Joseph submits that the Bill, upon being passed and once assented to by the Nigerian President, would have effectively overridden the common law position precluding champerty and maintenance.

 

The article can be accessed here.

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