The Federal High Court in Lagos has fixed September 29, 2026, to rule on a preliminary objection challenging its jurisdiction to hear an intellectual property lawsuit filed by Times Multimedia Ltd. against the African Export-Import Bank (Afreximbank) and other defendants.
Justice Daniel Osiagor scheduled the ruling after hearing extensive arguments from lawyers representing both parties during proceedings held on Thursday, July 2.
Times Multimedia, a Nigerian media and events company, is seeking legal redress over the alleged infringement of its intellectual property rights relating to the Creative Africa Exchange (CAX), a platform it says was developed to promote trade, investment, and growth within Africa’s creative and cultural industries.
According to court documents, the company conceived the CAX initiative in 2017 and 2018 and designed it as a continental platform to support financing, marketing, and commercialization across Africa’s creative economy.
The claimant stated that it presented the concept, business model, and implementation framework to Afreximbank in 2018 while seeking a strategic partnership and institutional backing for the initiative.
It further claimed that after supporting the inaugural CAX programme held in Kigali, Rwanda, in January 2019, Afreximbank later launched its own Creative Africa Nexus (CANEX) initiative in 2020.
Times Multimedia alleged that CANEX closely replicated the concept, objectives, structure, and operational framework of CAX without its approval, acknowledgment, or any contractual agreement, amounting to a violation of its intellectual property rights.
However, Afreximbank and the other defendants urged the court to dismiss the suit, arguing that the bank enjoys immunity from legal proceedings in Nigeria.
They based their objection on the Afreximbank Establishment Agreement of 1993, Section 9 of the Diplomatic Immunities and Privileges Act, and the African Export-Import Bank (Privileges and Immunities) Order, 2014.
According to the defendants, Article 50 of the bank’s Establishment Agreement grants Afreximbank immunity from legal process unless it expressly waives that protection. They also emphasized that the bank, established in October 1993 to promote intra-African trade, is an international financial institution of which Nigeria is a founding member.
Counsel for Times Multimedia opposed the objection, arguing that the immunity claimed by Afreximbank is not absolute and does not shield the bank from every form of judicial scrutiny.
The claimant maintained that the Establishment Agreement itself recognizes situations in which the bank may be subject to court proceedings, particularly where disputes arise from commercial transactions.
The legal team also urged the court to interpret the relevant laws broadly, warning against an interpretation that would unfairly deny a Nigerian company access to justice.
Relying on Section 6(6)(b) of the 1999 Constitution (as amended), the claimant argued that the court’s jurisdiction cannot be removed unless a statute clearly and unequivocally provides otherwise.
After listening to arguments from both sides for more than an hour, Justice Osiagor reserved his decision on the preliminary objection and adjourned the matter until September 29, 2026, when the court is expected to deliver its ruling.
... Federal High Court Reserves Ruling on Afreximbank Jurisdiction Challenge in Times Multimedia IP Suit ... Naijaonpoint.