N4.5bn Debt: Parallex Bank Challenges FHT Mega Express’ Suit as Abuse of Process

Wale Igbintade

Parallex Bank Limited has urged the High Court of the Federal Capital Territory (FCT), Abuja, to dismiss a suit filed against it by logistics firm, FHT Mega Express Limited, describing the action as incompetent, an abuse of court process, and outside the court’s jurisdiction.

The bank, one of Nigeria’s new-generation lenders, is challenging an ex-parte order granted on December 18, 2025, by Justice Hauwa Lawal Gummi, which temporarily froze N7.154 billion in its accounts following a financial dispute with FHT Mega Express.

In a preliminary objection supported by an affidavit deposed to by Mrs. Cynthia Akunaeziri, a manager at the bank, Parallex disclosed that it had earlier instituted Suit No: FHC/L/CS/1774/2025 at the Federal High Court, Lagos Judicial Division, against FHT Mega Express Limited and four others.

In the suit, dated September 4, 2025, the bank is seeking to recover N4.5 billion, being FHT’s outstanding indebtedness arising from letters of credit opened in the company’s favour.

The bank also sought to enforce its banker’s lien and obtained leave to dispose of goods to offset the debt.

Parallex Bank contended that rather than allow the Federal High Court to determine the issue of indebtedness, FHT embarked on what it described as a campaign of harassment aimed at frustrating the recovery of the undisputed debt.

According to the bank, FHT failed to disclose to the FCT High Court the existence of the earlier Lagos suit and a subsisting order directing the parties to maintain the status quo.

It argued that this deliberate suppression of material facts amounted to a serious abuse of court process.

The bank further alleged that before approaching the FCT High Court, FHT had sought a similar ex-parte order at the Lagos State High Court in Suit No: LD/ADR/6143/2025.

That application, it said, was refused by Justice A. T. Muyideen, who instead ordered that the bank be put on notice.

Following the refusal, Parallex Bank filed preliminary objections, after which FHT reportedly discontinued the suit and proceeded to file a fresh action in Abuja.

Parallex Bank maintained that FHT deliberately concealed both the pending Lagos suit and its failed attempt to secure ex-parte reliefs, thereby misleading the FCT High Court into granting the freezing order and exposing the courts to the risk of conflicting decisions by courts of coordinate jurisdiction.

In its counter-affidavit, the bank insisted the Abuja suit was filed immediately after the withdrawal of the Lagos action solely to re-litigate the same issues and obtain reliefs earlier refused, which it described as a gross abuse of court process.

The bank urged the court to dismiss the suit in the interest of justice.

The matter has been adjourned to February 4, 2026, for the hearing of the preliminary objection.

Parallex Bank said it remains determined to recover the outstanding N4.5 billion owed by FHT Mega Express Limited, which it accused of filing frivolous suits to evade payment.