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FCT High Court Rejects FHT Mega Express Claims, Awards Damages to Parallex Bank.

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The Federal Capital Territory High Court has thrown out in its entirety a lawsuit filed by logistics company FHT Mega Express Limited against Parallex Bank Limited, in which the firm sought ₦7.1 billion in damages. The court also upheld the bank’s preliminary objection, ruling that the case amounted to an abuse of court process.....KINDLY READ THE FULL STORY HERE▶

The dispute began after FHT Mega Express secured an ex parte order freezing Parallex Bank’s funds up to ₦7.1 billion with the Central Bank of Nigeria. However, Parallex Bank challenged the order, arguing that the suit was improper and duplicated ongoing litigation already filed by the bank at the High Court of Lagos State to recover the company’s outstanding debt.

In its ruling delivered on April 20, 2026, the court agreed with the bank, describing the case as an abuse of judicial process and faulting the company’s approach. The suit was consequently dismissed, with the court awarding ₦500,000 in costs against FHT Mega Express in favour of Parallex Bank.

Background To The Dispute

The conflict traces back to September 4, 2025, when Parallex Bank filed Suit No. FHC/L/CS/1774/2025 at the Federal High Court in Lagos seeking recovery of ₦4.5 billion allegedly owed by FHT Mega Express. The debt was said to have arisen from Letters of Credit used to finance import transactions worth millions of euros.

Justice Lewis Allagoa had earlier ordered all parties to maintain the status quo pending determination of the substantive case. Despite this, Parallex Bank accused FHT Mega Express of filing multiple cases across different jurisdictions in what it described as forum shopping.

After withdrawing a similar case at the Lagos State High Court, the company reportedly filed the Abuja suit just two days later, making near-identical claims and seeking fresh interim orders.

Allegations Raised

Parallex Bank accused FHT Mega Express of concealing key facts from the Abuja court, including:

  • The existence of the ongoing Federal High Court case in Lagos
  • The subsisting order directing parties to maintain status quo
  • Its earlier failed attempt to obtain similar ex parte reliefs in Lagos

The bank argued that these omissions misled the court into granting interim reliefs that should not have been issued.

Court’s Decision

The court upheld Parallex Bank’s arguments, ruling that FHT Mega Express acted in bad faith and engaged in conduct that constituted abuse of court process. It stressed that litigants must not pursue parallel cases in multiple jurisdictions to gain tactical advantage.

Reaction From Parallex Bank

Sources close to the bank described the judgment as a victory for due process and the rule of law, noting that it reinforces confidence in judicial fairness and corporate accountability.

Wider Implications

Legal analysts say the ruling highlights the judiciary’s firm stance against forum shopping and repetitive filings in commercial disputes. It is expected to serve as a reference point in future banking and corporate litigation involving abuse of process.

The judgment effectively clears the way for Parallex Bank to continue its efforts to recover the disputed funds and pursue lawful remedies in the ongoing financial dispute.

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Tinubu Seeks House of Reps’ Approval for ₦269bn Promissory Notes to Settle Debts.

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The Federal Government has asked the National Assembly to approve the issuance of promissory notes worth ₦269.44 billion to settle outstanding debts owed to contractors and other creditors.....KINDLY READ THE FULL STORY HERE▶

President Bola Tinubu made the request in a letter conveyed by the Secretary to the Government of the Federation (SGF), Senator George Akume, and read during plenary at the House of Representatives in Abuja.

The President is seeking lawmakers’ approval to establish and expand the Promissory Note Programme to address the government’s outstanding financial obligations.

In the letter dated August 18, 2026, and received by the Speaker’s office on October 21, Akume disclosed that the total liabilities amounted to ₦269,446,402,822.56.

He explained that the debts, which include contract-related and project-related obligations, were identified and confirmed following a comprehensive review by the relevant ministries, departments and agencies.

According to the SGF, the programme would provide “a structured, transparent and fiscally responsible framework” for settling the liabilities, with only verified and validated claims considered for payment.

In addition to seeking approval for the issuance of the promissory notes, Tinubu asked lawmakers to authorise the inclusion of the identified categories of creditors and beneficiaries, subject to final verification and certification.

The President also requested approval for the Minister of Finance and Coordinating Minister of the Economy, the Debt Management Office and other relevant government agencies to oversee the implementation of the programme.

Akume said the initiative would prevent the outstanding debts from accumulating further interest, penalties and other charges.

He added that the arrangement would reduce the financial pressure on affected creditors and demonstrate the government’s commitment to fulfilling its legitimate obligations.

The SGF noted that the Promissory Note Programme had previously been used to address inherited domestic debts and contractual liabilities, following approval by the Federal Executive Council and the National Assembly.

He explained that the scheme would allow the government to settle the obligations in phases without placing excessive pressure on public finances, in accordance with sound debt management principles.

Akume urged the House of Representatives to consider the request urgently, citing the substantial value of the liabilities, the length of time some debts had remained unpaid and the risk of additional interest accruing.

He said timely approval would enable the government to commence issuing the promissory notes and facilitate the resolution of the outstanding obligations.

A detailed schedule containing the debts, beneficiaries, amounts involved and supporting documents was attached to the request for lawmakers’ consideration.

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Tinubu Approves 500,000 Solar Lights for South-East, Kalu Announces.

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President Bola Tinubu has approved the distribution of 500,000 solar-powered lights to rural households across the South-East, according to the Deputy Speaker of the House of Representatives, Benjamin Kalu.....KINDLY READ THE FULL STORY HERE▶

Kalu made the disclosure during the flag-off ceremony of the Renewed Hope Light-Up initiative in Bende Federal Constituency, Abia State, where 26 transformers, alongside 10,000 solar-powered lights and fans, were distributed to communities.

He said 42,000 households in the constituency had been selected to benefit from the programme, adding that the first batch of 10,000 solar-powered lights and fans was expected to arrive within two weeks.

According to the deputy speaker, the initiative commenced with a pilot scheme under which 1,000 units were provided to selected beneficiaries. He noted that representatives from the constituency’s wards had confirmed that the units were working properly.

Kalu explained that the programme was designed to extend the benefits of the Federal Government’s Renewed Hope Agenda to rural communities, particularly households struggling with unreliable electricity supply.

He described the planned distribution of solar-powered lights to 42,000 households in a single federal constituency as unprecedented, noting that the intervention would improve access to electricity in underserved communities.

Meanwhile, Emmanuel Ndubuisi, the lawmaker representing Bende South Constituency in the Abia State House of Assembly, welcomed the initiative.

Ndubuisi said some communities in the area had been without electricity for approximately two years following transformer failures, adding that the intervention would help address their power challenges.

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CAN Sounds Alarm Over Video Threats Against Christians, Urges DSS, Police To Act.

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The Christian Association of Nigeria (CAN) has called on security agencies to investigate a viral video allegedly showing a young man leading a group of boys in chants threatening attacks on Christians in Enugu and Jos during Sunday worship.....KINDLY READ THE FULL STORY HERE▶

CAN President, Archbishop Daniel Okoh, condemned the alleged incitement and urged the Department of State Services (DSS), the Nigeria Police Force and other security agencies to identify those involved and prosecute anyone found guilty.

In a statement, Okoh expressed particular concern over the apparent involvement of children and young people, warning that exposure to messages promoting religious hatred could have serious consequences.

“The possibility that young people are being exposed to or encouraged to embrace such hatred raises serious concerns that must not be ignored,” he said.

The association called on investigators to determine where and when the video was recorded, identify the individuals featured in it and establish whether any persons or groups organised, sponsored or facilitated the activity.

It also urged security agencies to assess the potential threats arising from the incident and ensure adequate protection for Christian communities and places of worship in Enugu, Jos and other parts of the country.

Although CAN acknowledged reports that the leadership of Jama’atu Izalatil Bid’ah Wa Iqamatis Sunnah (JIBWIS) had disowned the video, it maintained that the denial should not prevent an independent investigation.

“The denial of responsibility by any organisation cannot replace an independent investigation into the identities of those involved, the origin of the video and the circumstances surrounding the chants,” the association said.

CAN insisted that anyone found responsible for the alleged threats must be held accountable under the law, without favour or discrimination.

The association also appealed to religious leaders to reject teachings and activities that encourage hatred or violence against people of other faiths. It warned against exposing young Nigerians to messages that portray fellow citizens as enemies because of their religious beliefs.

According to CAN, failure to investigate the incident could embolden further religiously motivated threats and worsen existing tensions.

“Allowing such conduct to go unchallenged would send a dangerous message that threats against citizens on religious grounds can be made without consequence,” it said.

The association urged Christians to remain calm, vigilant and law-abiding while investigations are ongoing. It also cautioned against retaliatory actions that could put lives at risk and deepen religious divisions.

Reaffirming its commitment to religious freedom, justice and peaceful coexistence, CAN stressed that every Nigerian deserves equal protection under the law, irrespective of religious affiliation.

The association further called on the government to move beyond condemning the alleged incident and establish the facts, insisting that citizens’ safety and their freedom to worship must be protected.

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