Corporate Governance 2019

LEGISLATION 

Treaties 

Is your country party to any bilateral or multilateral treaties  for the reciprocal recognition and enforcement of foreign  judgments? What is the country’s approach to entering into  these treaties and what if any amendments or reservations  has your country made to such treaties? 

At present, Nigeria is not a signatory to any multilateral or bilateral  treaties for the reciprocal recognition and enforcement of foreign  judgments. Foreign judgments are enforced in Nigeria by virtue of the  Foreign Judgments (Reciprocal Enforcement) Act, Chapter F35, Laws  of the Federation of Nigeria 2004 (the 2004 Act) and the Reciprocal  Enforcement of Judgments Act 1922, Chapter 175, Laws of the Federation  and Lagos 1958 (the 1958 Act). Section 3, Part 1 of the 2004 Act (which  contains provisions for the registration of foreign judgments) provides  that where the Minister of Justice of the Federation of Nigeria is satis fied that in the event of the benefits conferred by Part 1 of the 2004  Act being extended to judgments given in the superior courts of any  foreign country, substantial reciprocity of treatment will be assured with  regard to the enforcement in that foreign country of judgments made  by a superior court in Nigeria.

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