Parallex Bank Limited has asked the High Court of the Federal Capital Territory (FCT) to overturn a N7.15 billion freezing order placed on its funds, arguing that the decision violated its constitutional right to a fair hearing. The bank filed a motion on notice dated January 7, 2026, seeking to vacate the interim ruling.
Okay News reports that the order stemmed from a suit by FHT Mega Express Limited, which accused the bank of breaching trust and failing to honour a Letters of Credit agreement. Parallex Bank insists the court lacked jurisdiction to issue the order and that the matter is already the subject of multiple suits.
In its application, the bank argued that the freezing order amounted to an abuse of court process and rendered the ex parte proceedings invalid. It maintained that the orders were granted without urgency or evidence of a threat of dissipation, which would have justified proceeding without notice.
Quoting its filing, the bank stated: “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 bank’s counsel, Prof. Kemi Pinheiro, SAN, urged the court to hold that it lacked territorial jurisdiction, suspend proceedings pending determination of the motion, and set aside the December 18, 2025 ex parte order.
The dispute traces back to Justice Hauwa Lawal Gummi of the FCT High Court, who granted the interim relief in December 2025. Acting on an ex parte application by FHT Mega Express Limited, the court ordered the Central Bank of Nigeria (CBN) to sequester the disputed funds in an interest-yielding account.
Respondents in the suit include 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.
Ex parte applications are recognised tools in civil litigation, typically used where urgency is alleged and notice could defeat the purpose. However, such orders are provisional and may be reviewed once affected parties are heard. Courts retain powers to discharge or set aside them if obtained without jurisdiction or through suppression of material facts.
Parallex Bank maintains that the order was obtained without urgency and amid pending suits on the same subject matter. The case has been adjourned to February 4, 2026, when arguments on the application will be considered.
 to overturn a N7.15 billion freezing order placed on its funds, arguing that the decision violated its constitutional right to a fair hearing. The bank filed a motion on notice dated January 7, 2026, seeking to vacate the interim ruling.){kind=link}