On November 27, 2023, Nigeria became the thirteenth State Party to the United Nations Convention on International Settlement Agreements Resulting from Mediation, referred to as the “Singapore Convention on Mediation.” The Convention will enter into force on 27 May 2024 for Nigeria. Earlier this year, on 26 May 2023, the President of the Federal Republic of Nigeria signed the Arbitration and Mediation Act 2023. These steps demonstrate the country’s keen interest in being a global hub for international commercial dispute resolution.
The Singapore Convention on Mediation facilitates international trade and promotes mediation as an alternative and effective method of resolving commercial disputes by providing an effective mechanism for the enforcement of international settlement agreements resulting from mediation. The Convention establishes a framework for enforcement of international settlement agreements resulting from mediation in order to promote the use of mediation as a method of resolving international commercial disputes.
In total, fifty-six States have signed the Convention since it opened for signature on 7 August 2019. A full list of signatories and parties to the Convention is available on the United Nations Treaty Collection. Further up-to-date information on the Convention and its status, including an overview of the implementing legislation of the Parties to the Convention, the official preparatory documents from the UNCITRAL Working Group II negotiations (Travaux Préparatoires) and other useful resources, may be found here.
The Convention is open for signature, ratification, and accession by States and regional economic integration organizations.
For more information please visit the official UNCITRAL website.
