Justice Daniel Osiagor of the Federal High Court in Lagos has fixed September 29, 2026 for his ruling over the preliminary objection in the intellectual property suit filed by the Times Multimedia Limited against the African Export-Import Bank (Afreximbank) and other defendants.
The judge fixed the date on July 2, 2026 following the conclusion arguments by the parties on the preliminary objection by Afreximbank and other defendants challenging the jurisdiction of the court to entertain the suit.
The plaintiff, a Nigerian media and events company, is the originator and registered proprietor of CAX, the Creative Africa Exchange.
In the documents before the court, Times Multimedia conceived CAX in 2017/2018 as a continental trade and investment platform designed to finance, market, and monetise Africa’s creative and cultural industries.
In 2018, Times Multimedia formally presented the CAX concept, framework, and business model to Afreximbank for partnership and institutional backing.
After Afreximbank had sponsored Times Multimedia on the CAX programme in Kigali, Rwanda on January 9, Afreximbank in 2020 copied CAX hook-line and sinker to launch its own initiative known as the Creative Africa Nexus (CANEX).
But Times Multimedia alleged that CANEX substantially adopted the core concept, objectives, and structure of CAX without license, attribution, or contractual agreement, leading to the present suit for intellectual property infringement.
Afreximbank and other defendants later filed a Notice of Preliminary Objection, contending that the bank enjoys immunity from judicial proceedings in Nigeria under the Afreximbank Establishment Agreement, 1993, Section 9 of the Diplomatic Immunities and Privileges Act, Cap D1, LFN 2004, and the African Export-Import Bank (Privileges and Immunities) Order, 2014.
Afreximbank was established in October 1993 by African governments and investors to promote intra-African trade with Nigeria as a founding signatory.
Article 50 of the Establishment Agreement provides that the Bank enjoys immunity from legal process except to the extent that it expressly waives such immunity.
But the lawyer to Times Multimedia Limited, Oladayo Ogungbe, has opposed the preliminary objection, arguing that the immunity claimed by Afreximbank is not absolute.
Ogungbe further argued that the same Establishment Agreement contains provisions contemplating circumstances where the bank may be sued or subjected to judicial proceedings, particularly in respect of commercial transactions.
The Times Multimedia legal team further urged the court to interpret the relevant instruments holistically and to avoid any construction that would unjustifiably deny an aggrieved Nigerian entity access to court in the absence of a clear and express exclusion of the court’s jurisdiction, as guaranteed under Section 6(6)(b) of the 1999 Constitution (as amended).
Having listened to both parties for over one hour, Justice Osiagor adjourned the case to September 29, 2026 for his ruling in the matter.
The ruling will determine whether the suit can proceed against Afreximbank before the Nigerian Federal High Court.
