The Federal Capital Territory High Court has dismissed a N7.1 billion suit filed by logistics firm FHT Mega Express Limited against Parallex Bank, ruling that the case was a “gross abuse of court process.”
In a ruling delivered on April 20, 2026, the court upheld Parallex Bank’s preliminary objection and awarded N500,000 in costs against FHT Mega Express in favour of the bank.
FHT Mega Express had earlier secured an ex parte order freezing up to N7.1 billion of Parallex Bank’s funds with the Central Bank of Nigeria.
Parallex Bank challenged the order, arguing that FHT’s suit duplicated an existing case in Lagos and amounted to forum shopping.
● The Lagos Debt Suit
The dispute traces back to September 4, 2025, when Parallex Bank sued FHT Mega Express at the Federal High Court, Lagos, in Suit No. FHC/L/CS/1774/2025, to recover N4.5 billion. The debt arose from Letters of Credit issued to finance FHT’s import transactions worth millions of euros.
Justice Lewis Allagoa had ordered all parties in the Lagos suit to maintain the status quo pending determination of the substantive matter.
● Multiplicity of Suits
Despite the subsisting Lagos case, FHT Mega Express filed multiple actions in different jurisdictions. After withdrawing a similar suit at the Lagos State High Court, the company instituted the Abuja action two days later, seeking nearly identical reliefs and fresh ex parte orders.
Parallex Bank told the FCT court that FHT deliberately concealed three material facts:
1. The pending Federal High Court suit in Lagos filed by the bank;
2. Justice Allagoa’s existing status quo order;
3. FHT’s failed attempt to obtain ex parte orders in Lagos.
The bank argued that this suppression misled the Abuja court into granting interim orders.
● Court: ‘Bad Faith, Abuse of Judicial Process’
The FCT High Court agreed with Parallex Bank. It held that FHT Mega Express acted in bad faith and abused judicial process by duplicating disputes across jurisdictions for strategic advantage. The court struck out the entire suit and awarded N500,000 costs against FHT.
● Parallex Bank: “Victory for Due Process”
Bank sources welcomed the ruling as “a triumph for due process, transparency, and the rule of law.”
“The outcome reinforces the bank’s commitment to sound corporate governance and lawful conduct in all dealings while upholding stakeholder trust and ensuring the integrity of operations,” one source said.
● Why It Matters
Legal analysts say the judgment signals the judiciary’s zero tolerance for procedural abuse in commercial disputes. It sets a precedent against multiplicity of suits and forum shopping in banking litigation.
The ruling clears the path for Parallex Bank to pursue recovery of funds tied to the N4.5 billion debt and affirms its right to deploy lawful remedies to protect its financial and reputational interests.
Stay ahead with the latest updates! Join The ConclaveNG on WhatsApp and Telegram for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
