ABUBAKAR SADIQ UMAR, JSC (Delivering the Leading Judgment): This is an appeal against the Judgment of the Court of Appeal, Port Harcourt Judicial Division (lower Court), delivered on 6th June, 2011 wherein the lower Court dismissed the Appellant's appeal and awarded the cost of N50,000.00 in favour of the Respondent. The Appellant being dissatisfied with the Decision of the lower Court has further filed the instant appeal.
BRIEF FACTS
The Appellant and Respondent were parties to an arbitration proceedings wherein the Appellant was the Respondent and the Respondent herein was the Claimant. At the conclusion of the arbitration proceedings, the sole arbitrator on 1st June, 2001, rendered an arbitral Award in the sum of ₦12,912,000.00 (Twelve Million, Nine Hundred and Twelve Thousand Naira Only) in favour of the Respondent. The Respondent now armed with the Award filed a Motion on Notice dated 4th June, 2001 at the trial Court seeking an Order of the trial Court to make the Award a final Ju…