Abuja Court Throws Out FHT Mega Express’ N7.1bn Claim Against Parallex Bank
In a ruling on April 20, 2026, the Federal Capital Territory High Court dismissed FHT Mega Express’s entire N7.1 billion suit against Parallex Bank. The court agreed the claim was an abuse of process and awarded N500,000 costs in favour of the bank. The dispute began in September 2025 when Parallex Bank sued to recover N4.5 billion over letters of credit used by the logistics firm. The bank argued that FHT concealed the earlier Lagos federal suit and a status quo order, then pursued nearly identical claims in Abuja just days after withdrawing its Lagos case. Finding FHT’s conduct amounted to forum shopping and bad faith, the court struck out the Abuja suit. Legal observers say the decision will discourage multiplicity of actions in commercial litigation and pave the way for Parallex Bank to recover the disputed funds.
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