An equipment, machinery and logistics company, FHT logistics company, FHT Mega Express Limited has dragged Parallex Bank Limited before a Lagos State High Court sitting at Tafawa Balewa Square over an alleged debt of 7,154,677,000 Billion naira.
FHT Mega Express Limited, through its counsel Adedayo Oshodi (SAN) filed a motion ex parte marked ID/AOR/6143/2025 abd dated October 17,2025, seeking an order of the court directing all financial institutions in Nigeria holding funds for Parallex Bank yo withhold all such sums up to 7,154,677,000 Billion naira in intrest-yeilding accounts pending the determination of the motion on notice .
The company also asked the court to make any other orders it deems fit in the circumstances.
The application predicted on five grounds, states that FHT Mega Express Limited maintained an account with Parallex Bank into which it deposited 7,154,677,000 Million naira for the creation of letters of credit .
The applicant alleged that the funds were used by the bank to establish letters of credit totalling 7,310,257.99 Billion Euros, but that bank failed to fulfil the purpose for which the money was domiciled since 2023
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