Parallex Bank Limited has asked a Federal Capital Territory (FCT) High Court to dismiss a N7.15 billion suit filed against it by FHT Mega Express Limited over an alleged abuse of court process, forum shopping and suppression of material facts. In a notice of preliminary objection, the bank urged the court to set aside the …
The Nigeria Deposit Insurance Corporation (NDIC) has significantly shifted its approach to handling failed banks, marking a crucial step towards reducing the risks of moral hazard in the country’s financial sector. This shift is particularly evident in the recent liquidation of Heritage Bank and other recent failures, such as Aso Savings and Loans and Union …
