THE FINALITY OF ARBITRAL AWARDS AND LIMITS OF JUDICIAL INTERFERENCE
The Position of Law is that where parties voluntarily submit their dispute to arbitration, the resulting arbitral award is final and binding upon them. Courts are not appellate bodies over arbitral tribunals and will only interfere where a party establishes recognized statutory grounds such as lack of jurisdiction, misconduct or breach of fair hearing. Mere dissatisfaction with the findings of the arbitrator is not a ground for setting aside an arbitral award.
For more clarity on the topic, I’ll be making reference to the recent case of NICON INSURANCE LTD. v. BRIGHTHOUSE ESTATE LTD. (2025) 8 NWLR (Pt. 1993) 469.
A brief narration of the fact of the case is that:
The applicant and the respondents are parties to an agreement with an arbitration clause. A dispute between the parties was referred to arbitration, and an award was entered in favour of the respondent.
The applicant applied to the High Court to set aside the award. The applicant asserted lack of jurisdiction of...