Parallex Bank Limited has asked the High Court of the Federal Capital Territory (FCT) to set aside a N7.15 billion freezing order placed on its funds, arguing that the decision was reached in breach of its constitutional right to a fair hearing.
The request is contained in a motion on notice dated January 7, 2026, filed by the bank.
The application follows an interim ruling arising from a suit instituted by FHT Mega Express Limited over an alleged breach of trust and failure to honour a Letters of Credit agreement, with the bank insisting that the court lacked the jurisdiction to make the order.
What they are saying
In its application before the court, Parallex Bank maintained that the freezing order was wrongly granted and should be vacated because the matter is already allegedly the subject of multiple suits.
The bank argued that this made the action an abuse of court process and rendered the ex parte proceedings invalid.
“By reason of the abusive nature of this suit, this Honourable Court lacks the jurisdiction to entertain or adjudicate upon it, or to hear and determine the Claimant/Respondent’s motion ex parte dated November 20, 2025, and filed on the same date, or to grant the ex parte orders made on December 18, 2025.”
“The ex parte orders were made in violation of the Defendants’/Respondents’ and Applicant’s right to fair hearing with respect to the subject matter of the suit.”
“The ex parte orders were granted despite the absence of any real urgency or evidence of a threat of dissipation, which would have necessitated granting the application without notice to the Applicant, other Defendants/Respondents, or interested parties.”
The bank’s counsel, Prof. Kemi Pinheiro, SAN, also urged the court to hold that it lacked territorial jurisdiction and to suspend proceedings pending the determination of the motion, while setting aside and staying the execution of the December 18, 2025 ex parte order.
Backstory
The dispute traces back to an interim decision delivered by Justice Hauwa Lawal Gummi of the FCT High Court in December 2025. Acting on an ex parte application by FHT Mega Express Limited, the court ordered that N7.15 billion allegedly linked to the dispute be preserved pending the hearing of a substantive motion on notice.
The order directed the Central Bank of Nigeria (CBN) to sequester the funds in an interest-yielding account.
The respondents named in the suit are Parallex Bank Limited, the CBN, and the Nigeria Deposit Insurance Corporation (NDIC).
The application was filed under Suit No: CV/4737/2025, with Motion No: M15374/2025, and was granted on December 18, 2025.
In granting the interim relief, the court held that preserving the funds was necessary to prevent dissipation and to protect the integrity of the ongoing dispute between the parties.
What you should know
Ex parte applications and orders are recognised tools in civil litigation, typically used where urgency is alleged and giving notice could defeat the purpose of the application.
However, such orders are provisional and discretionary and may be reviewed after the affected parties are heard.
Ex parte orders are interim in nature and do not finally determine the rights of the parties.
Courts retain inherent powers to discharge or set aside such orders if obtained without jurisdiction or through suppression of material facts.
In this case, Parallex Bank insists the order was obtained without urgency and amid pending suits on the same subject matter.
TheCable reports that the court has adjourned the matter to February 4, when arguments on the application are expected to be considered.
