The Federal Capital Territory (FCT) High Court has adjourned to March 10, 2026, a N7.15 billion legal dispute involving Parallex Bank Limited and FHT Mega Express Limited.
Legal representatives of Parallex Bank disclosed the new hearing date to Nairametrics on Wednesday.
The adjournment comes days after the bank urged the court to set aside an interim freezing order placed on its funds, arguing that the order was granted in breach of its constitutional right to fair hearing and amid pending related suits.
With the next hearing now fixed for March, the court is expected to hear oral arguments from both parties on the validity of the suit and the interim orders already made.
What they are saying
The matter centres on a contentious interim order that preserved N7.15 billion allegedly linked to the dispute, pending the determination of a substantive motion on notice.
The court had earlier fixed February 4, 2026, for arguments on the applications before it, but the hearing has now been pushed to March 10.
According to court filings and submissions reviewed by Nairametrics, both parties have filed written addresses sharply contesting the propriety of the suit and the interim orders.
- “It is designed to create confusion, generate conflicting judgments from courts of coordinate jurisdiction, and potentially deprive the Federal High Court of the orderly administration of justice,” the bank argued in their processes.
- The bank’s lawyers added that such conduct “is emblematic of bad faith litigation and constitutes a clear abuse of the judicial process.”
- FHT, in its further affidavit, argued that the bank “defeated or breached its contractual obligations,” which it said justified the filing of the suit.
With the new adjourned date, the parties are expected to advance these arguments orally in open court, after which the judge will determine the appropriate next steps in the case.
Backstory
The dispute stems from an interim decision delivered in December 2025 by Justice Hauwa Lawal Gummi of the FCT High Court.
- The ruling followed an ex parte application filed by FHT Mega Express Limited seeking urgent preservation of funds allegedly connected to the dispute.
- The court ordered that N7.15 billion be preserved pending the hearing of a substantive motion on notice.
- The Central Bank of Nigeria (CBN) was directed to sequester the funds in an interest-yielding account.
Parallex Bank Limited, the CBN, and the Nigeria Deposit Insurance Corporation (NDIC) were named as respondents in the suit.
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 dispute between the parties.
What you should know
Ex parte applications and interim orders are recognised procedural tools in civil litigation, particularly where urgency is alleged.
- However, such orders are provisional and do not amount to a final determination of the rights of the parties.
- Ex parte orders are typically granted without hearing the other side, on the basis that giving notice may defeat the purpose of the application.
- They are discretionary and subject to review once the affected parties are given an opportunity to be heard.
- Courts have inherent powers to discharge or set aside such orders if they are obtained without jurisdiction or through suppression of material facts.
Parallex Bank maintains that the freezing order was granted without sufficient urgency and while related suits on the same subject matter were pending.
The March 10 hearing will therefore be critical in determining whether the interim orders remain in force or are set aside.
