Facts:

This is an appeal from the decision of the Federal High Court, Lagos Judicial Division (lower court), which was delivered by Hon. Justice (Prof.) Chuka Austin Obiozor, on the 30th March 2020.

At the lower court, the Appellants by an Originating Motion commenced a recognition and enforcement suit, wherein they sought for the recognition and enforcement of an arbitral award which was made in their favour by the Sole Arbitrator, as well as a 10% post-judgment interest on the arbitral award from the date of the award to the date of the awarded sums are settled. The lower court upon hearing arguments canvassed by parties refused to recognise or enforce a part of the arbitral award, having set the refused part of the award in a Set-Aside Suit commenced by the Respondent prior to the Recognition and Enforcement Suit, but recognised the other parts of the arbitral award. The lower court also declined jurisdiction to grant the Appellants’ relief for post-judgment interest on the arbitral award from the date of the award to the date the awarded sums are settled, the same having been refused by the Sole Arbitrator.

The Appellants being dissatisfied with the decision of the lower court appealed to the Court of Appeal, seeking to upturn the decision of the lower court and to recognise the portion of the award, that had been set, aside by the lower court and for the grant of post-judgment interest on the arbitral award.