N7.15bn Suit: Parallex Bank challenges FHT Mega Express’ case at FCT High Court

A legal dispute involving Parallex Bank Limited and logistics firm FHT Mega Express Limited has taken a fresh turn, as the bank has asked the High Court of the Federal Capital Territory (FCT), Abuja, to dismiss a N7.15 billion suit filed against it.

Parallex Bank, through court processes, is challenging the competence of the suit and has filed a Notice of Preliminary Objection alongside a Motion on Notice, urging the court to set aside interim orders earlier made in the matter.

The case has been adjourned to February 4, 2026, for hearing.

Background of the Dispute

Court documents show that the disagreement between the parties dates back to earlier proceedings instituted at the Federal High Court, Lagos Judicial Division.

According to records, Parallex Bank had, on September 4, 2025, filed a suit at the Federal High Court in Lagos seeking to recover an alleged outstanding indebtedness of about N4.5 billion from FHT Mega Express. The bank stated that the claim arose from several Letters of Credit issued to support import transactions.

On October 14, 2025, the Federal High Court in Lagos reportedly ordered parties to maintain the status quo pending the determination of the substantive suit.

Abuja Suit and Preliminary Objection

FHT Mega Express subsequently filed the Abuja suit on November 20, 2025, claiming N7.15 billion against the bank. In response, Parallex Bank approached the FCT High Court with a preliminary objection, arguing that the matter was already subject to ongoing proceedings before a court of competent jurisdiction.

The bank is asking the court to dismiss the Abuja action on the ground that the issues raised are substantially similar to those pending before the Federal High Court.

Multiple Court Actions

Court filings indicate that before approaching the FCT High Court, FHT Mega Express had earlier filed a related suit at the Lagos State High Court. That matter, according to records referenced by the bank, was later discontinued.

Parallex Bank argues that the existence of multiple suits touching on the same transaction raises questions about procedural propriety and judicial efficiency, and should be considered by the court in determining whether the Abuja action should proceed.

Affidavit Evidence

In an affidavit deposed to by a bank official, Parallex Bank outlined the nature of the banking facilities involved, stating that the Letters of Credit were valued in several million euros and formed the basis of the ongoing Federal High Court action in Lagos.

The bank further stated that the Lagos Federal High Court case seeks not only recovery of the alleged debt but also determination of related commercial obligations arising from the transactions.

Court Adjournment

The FCT High Court has adjourned the matter to February 4, 2026, to hear the preliminary objection and other pending applications.

However, legal observers note that the case highlights recurring issues in commercial litigation, including the management of parallel proceedings, the role of preliminary objections, and the use of interim applications in high-value disputes.

All parties are expected to present their arguments when the court reconvenes, while the substantive issues remain subject to judicial determination.