The Federal Capital Territory (FCT) High Court has dismissed a ₦7.1 billion suit filed by logistics firm FHT Mega Express Limited against Parallex Bank Limited, ruling that the case constituted an abuse of court process.
In a judgment delivered on April 20, 2026, the court upheld a preliminary objection raised by Parallex Bank, striking out the suit in its entirety and awarding ₦500,000 in costs against FHT Mega Express.
Dispute Over Alleged Indebtedness
The case stemmed from a dispute between both parties over financial obligations linked to import transactions. FHT Mega Express had earlier secured an ex parte order freezing funds belonging to Parallex Bank up to the disputed sum of ₦7.1 billion with the Central Bank of Nigeria.
However, the bank challenged the order, arguing that the suit was improper given an earlier case it had filed against the logistics firm at the Federal High Court in Lagos. In that suit, Parallex Bank is seeking to recover an alleged ₦4.5 billion debt arising from letters of credit issued to finance FHT’s import transactions.
Court Faults Multiple Filings
The court agreed with the bank’s argument that FHT Mega Express engaged in “forum shopping” by filing multiple suits across different jurisdictions on the same issue.
According to court findings, the company had previously initiated a similar case in Lagos, which it later withdrew before filing a near-identical suit in Abuja just days later.
The court held that such actions amounted to bad faith and a clear abuse of judicial process, emphasizing that litigants must not duplicate cases in different courts for strategic advantage.
Allegations of Concealment
Parallex Bank also argued that FHT Mega Express failed to disclose critical information to the court, including:
● The existence of the earlier suit in Lagos
● A subsisting court order directing parties to maintain the status quo
● Its unsuccessful attempt to secure similar ex parte orders in Lagos
The court found merit in these claims, noting that the omission of material facts misled the court into granting interim reliefs that should not have been issued.
Bank Welcomes Ruling
Sources close to Parallex Bank described the judgment as a validation of due process and the rule of law. The ruling, they said, reinforces the bank’s position on transparency and corporate governance in its operations.
Legal observers say the decision highlights the judiciary’s firm stance against procedural abuse in commercial litigation and the latest ruling is expected to serve as a reference point in future cases involving multiplicity of suits and jurisdictional manipulation.
With the dismissal of the Abuja suit, Parallex Bank is now positioned to continue its recovery efforts through the ongoing proceedings in Lagos, while also regaining access to previously restricted funds.
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