A Federal Capital Territory High Court has dismissed a suit filed by FHT Mega Express Limited against Parallex Bank Limited over a disputed debt, ruling that the case constituted an abuse of court process.

The logistics firm had sought N7.1 billion in claims against the bank. However, the court upheld a preliminary objection raised by Parallex Bank, which argued that the matter was already the subject of an earlier suit before a Lagos court.

In its decision, the FCT High Court dismissed the case in its entirety and awarded costs of N500,000 against FHT Mega Express in favour of the bank.

The dispute stems from an earlier action initiated by Parallex Bank on September 4, 2025, at the Federal High Court in Lagos, where it is seeking to recover an alleged N4.5 billion debt from the logistics company. The debt is linked to letters of credit issued to support import transactions valued in millions of euros.

Prior to the dismissal, FHT Mega Express had secured an ex parte order directing that the bank’s funds be frozen up to N7.1 billion with the Central Bank of Nigeria. The bank challenged the order, arguing that the fresh suit duplicated issues already before another court.

In the Lagos proceedings, Justice Lewis Allagoa had directed all parties to maintain the status quo pending the determination of the substantive case.

Reacting to the latest ruling, Parallex Bank described the judgment as a victory for due process and the rule of law, adding that it underscores its commitment to corporate governance and regulatory compliance.