On May 26, 2023, the erstwhile President of the Federal Republic of Nigeria, President Muhammadu Buhari GCFR assented to the Arbitration and Mediation Act, 2023 (the “AMA” or “Act”) which has now repealed the Arbitration and Conciliation Act 1988 (the “ACA”). The Act now mandates the courts to stay proceedings commenced in breach of the arbitration agreement unless the court finds that the agreement is void, inoperative or incapable of being performed. It provides that; the requirement for an arbitration agreement to be in writing can now be satisfied by an “electronic communication” that is accessible to be usable for subsequent reference. Implying that, if an electronic communication is readily accessible and can be used for future reference, it fulfills the criteria that an arbitration agreement must be in writing. as means to satisfy the mandatory requirement of a written arbitration agreement.

Source: The Guardian November 13, 2023 15:47 UTC