MICHEAL O. ATTAH

The emergence of blockchain technology and smart contracts has transformed the traditional concept of contractual relationships by introducing self-executing agreements that operate without the need for intermediaries. While smart contracts offer significant advantages, including efficiency, transparency, security, and reduced transaction costs, their legal status under Nigerian contract law remains uncertain. This study examines the enforceability of smart contracts within the framework of Nigerian contract law, with particular emphasis on the traditional elements of contract formation, the admissibility of electronic evidence, and the challenges posed by blockchain-based transactions. Using a doctrinal research methodology, the study analyses relevant statutes, judicial authorities, and scholarly literature to determine whether existing legal principles adequately accommodate smart contracts. It further explores critical issues relating to consensus ad idem, contractual intention, coding errors, jurisdiction, applicable law, and dispute resolution in cross-border blockchain transactions. The study finds that although Nigerian law has made significant progress in recognising electronic transactions and digital evidence, it has yet to provide a comprehensive legal framework specifically governing smart contracts. This legal uncertainty may hinder commercial innovation and expose parties to enforcement risks. The study concludes that smart contracts are capable of being recognised and enforced under existing principles of contract law where the essential elements of a valid contract are present, but legislative and judicial reforms are necessary to address the unique legal challenges associated with blockchain technology. It recommends the enactment of specific legislation on smart contracts, judicial capacity building, and the development of regulatory guidelines to enhance legal certainty and promote confidence in Nigeria's digital economy.