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.
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.
