Third Party Rights – Arbitrability, Locus Standi and Precipate Action in Arbitration Proceedings in Nigeria, by ‘Funke Adekoya, SAN

Statoil (Nigeria) Limited & Anor v. Federal Inland Revenue Service & Anor

In a landmark decision, which rolls back the giant strides that Nigeria was said to have recently achieved in asserting its arbitration–friendly nature, the Court of Appeal has seemingly reversed its previous position on Section 34 of the Arbitration and Conciliation Act[1] on the extent of court intervention in arbitration proceedings.[2] An earlier decision had also upheld the court’s limited ability to intercede in arbitration proceedings.[3] Continue reading