The Federal High Court sitting in Lagos has adjourned until September 29, 2026, for ruling on a preliminary objection challenging its jurisdiction to entertain an intellectual property suit instituted by Times Multimedia Ltd. against the African Export-Import Bank and others.
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Justice Daniel Osiagor fixed the date after hearing arguments from counsel for the parties on the objection during proceedings held on Thursday, July 2, 2026.
Times Multimedia Ltd., a Nigerian media and events company, commenced the action alleging infringement of its intellectual property rights in the Creative Africa Exchange, a trade and investment platform developed for Africa’s creative and cultural industries.
According to the originating processes, the claimant conceived the CAX initiative in 2017/2018 as a continental platform for financing, marketing and monetising Africa’s creative economy.
It averred that in 2018, it presented the concept, business model and implementation framework to Afreximbank in pursuit of a strategic partnership and institutional support.
The claimant further contended that after sponsoring the CAX programme held in Kigali, Rwanda, in January 2019, Afreximbank subsequently launched its own initiative, Creative Africa Nexus, in 2020.
Times Multimedia alleged that CANEX substantially reproduced the concept, objectives, structure and underlying framework of CAX without its consent, attribution or any contractual arrangement, thereby infringing its intellectual property rights.
In response, Afreximbank and the other defendants filed a Notice of Preliminary Objection challenging the competence of the suit and the jurisdiction of the court to entertain it.
The defendants submitted that Afreximbank enjoys immunity from judicial proceedings in Nigeria by virtue of the Afreximbank Establishment Agreement, 1993, Section 9 of the Diplomatic Immunities and Privileges Act, Cap D1, Laws of the Federation of Nigeria 2004, and the African Export-Import Bank (Privileges and Immunities) Order, 2014.
They argued that Article 50 of the Afreximbank Establishment Agreement confers immunity from legal process on the bank except where such immunity has been expressly waived.
The defendants further noted that Afreximbank, established in October 1993 by African governments and investors to promote intra-African trade, is an international financial institution of which Nigeria is a founding signatory.
Opposing the objection, counsel for the claimant argued that the immunity claimed by Afreximbank was not absolute.
Counsel submitted that the Establishment Agreement itself envisages circumstances under which the bank may be subjected to judicial proceedings, particularly in matters arising from commercial transactions.
The claimant further urged the court to adopt a holistic interpretation of the relevant legal instruments and to refrain from construing them in a manner that would unjustifiably deny a Nigerian entity access to the courts.
Counsel relied on Section 6(6)(b) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), contending that the court’s jurisdiction cannot be ousted in the absence of a clear and unequivocal statutory provision.
Following arguments by counsel, which lasted for over an hour, Justice Osiagor reserved ruling on the preliminary objection and adjourned the matter until September 29, 2026, for the delivery of the ruling.
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