INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES (ENFORCEMENT OF AWARDS) ACT
Act · Finance
An Act makes ICSID arbitration awards enforceable in Nigerian courts. It targets foreign investors and government entities in investment disputes. This honours Nigeria's international obligations.
INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES (ENFORCEMENT OF AWARDS) ACT
What Is This Policy?
An Act giving effect to the Washington Convention on the Settlement of Investment Disputes, making ICSID arbitration awards enforceable in Nigerian courts as if they were court judgments.
Who Does It Target?
Foreign investors with arbitration awards against the Nigerian state Nigerian government entities party to ICSID proceedings Federal High Court enforcing investment awards The Ministry of Justice handling international arbitration
What Does It Aim to Achieve?
Honour Nigeria's international investment treaty obligations by ensuring that ICSID arbitration awards against Nigeria or in Nigeria's favour can be enforced through Nigerian courts.
Key Features
Award Enforcement: ICSID awards are enforceable in Nigeria without re-examination of the merits. Court Jurisdiction: The Federal High Court registers and enforces ICSID awards. Immunity Limitation: State immunity does not prevent enforcement of ICSID awards. ICSID Convention: Implements Nigeria's obligations as a signatory to the ICSID Convention.
Current Status
Rollout Stage: Active Coverage: Investment arbitration enforcement Beneficiaries: Foreign investors; investment climate; Nigeria's treaty compliance Funding: Not applicable
How to Access
Apply to register ICSID award at the Federal High Court Provide authenticated copy of the ICSID award Enforcement follows Federal High Court enforcement procedures Application method: File enforcement application at the Federal High Court.
Important Terms
ICSID awards cannot be challenged on the merits in Nigerian courts Only procedural defects may be raised in opposition to enforcement Nigeria must honour ICSID awards or face diplomatic and investment consequences
Official Resources
Website: https://www.judiciary.gov.ng Contact: Federal High Court / Office of the Attorney General of the Federation
Legal Framework
Enacted under the legislative authority of the National Assembly pursuant to Section 4 of the 1999 Constitution. Gives domestic effect to the ICSID Convention (Washington Convention) 1965 and operates alongside the Arbitration and Conciliation Act 2004, the Investment and Securities Act 2007, and the Nigerian Investment Promotion Commission Act 1995.