FCT High Court dismisses FHT Mega Express suit against Parallex Bank, awards N500,000 costs

The Federal Capital Territory High Court has dismissed a suit filed by FHT Mega Express Limited against Parallex Bank Limited and awarded costs of N500,000 in favour of the bank.

According to the ruling delivered on April 20, 2026, the court upheld a preliminary objection raised by Parallex Bank and dismissed the suit in its entirety.

The case arose from claims brought by FHT Mega Express against the bank.

During proceedings, Parallex Bank argued that the matter should not proceed in light of related proceedings already pending before another court.

In its ruling, the court agreed with the objection raised and struck out the suit.

The court also awarded costs of N500,000 against FHT Mega Express in favour of Parallex Bank.

The dispute is linked to an earlier matter instituted by Parallex Bank at the Federal High Court in Lagos concerning financial claims involving the parties.

Parallex Bank had argued before the FCT High Court that there were related proceedings already before another court and urged the court to dismiss the Abuja action.

The FCT High Court, in its ruling, upheld that objection.

Reaction

Sources close to the bank said Parallex Bank welcomed the decision and described it as a positive outcome.

Legal observers say the ruling highlights the importance of proper judicial process in commercial disputes.

The decision is also expected to have implications for the ongoing matters involving both parties in other courts.

This report is based on the court ruling and proceedings as presented in open court.