OrderPaperToday – The Senate has passed a bill to enact the Arbitration and Mediation Act to provide for a unified legal framework for the settlement of commercial disputes.

The Red Chamber also passed on Tuesday, three other bills for concurrence from the House of Representatives after a clause-by-clause consideration by the Committee of the Whole.

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The bills include Federal Medical Centre Ogoja, Cross-River State (Establishment) Bill, 2022; Federal Medical Centre Igboora, Oyo State (Establishment) Bill, 2021; and Advertising Regulatory Council Bill, 2022.

The bills presented for concurrence were sponsored by the Senate Leader, Yahaya Abdullahi (Kebbi North). 

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Leading the debate, the Senate Leader explained that the Arbitration and Mediation Act, 2022, seeks to repeal the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria, 2004.

He also disclosed that the piece of legislation recognises and enforces the New York Convention on Foreign Arbitration Awards to any award made in Nigeria or in any contracting state arising out of international commercial arbitration.

Senator Abdullahi added that the legislation seeks the application of the Singapore Convention on the International Settlement Agreements resulting from mediation. 

The four bills for concurrence were passed by the Senate after a clause-by-clause consideration by the Committee of the Whole.

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