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Company Drags CBN To Court Over ‘eNaira’ Usage



Company Drags CBN To Court Over ‘eNaira’ Usage | Daily Report Nigeria

A company known as ENAIRA PAYMENT SOLUTIONS LIMITED has sent a cease and desist notification to the Central Bank of Nigeria (CBN) with regards to the name “eNaira.”

This is according to a document titled: “Infringement of Trademark & Violation of Corporate Name cease and desist Notification to the Central Bank of Nigeria,” signed by Olakule Agbebi Esq for Olakule Agbebi & Co .

The notification follows the full deployment of the Centre Bank Enaira website in wait for the launch of the digital currency, eNaira.


Read Also: eNaira: All You Need to Know About Nigeria’s Digital Currency

According to Olakule Agbebi Esq,  “ENAIRA PAYMENT SOLUTIONS LIMITED (RC 508500)” has been incorporated since 7th April 2004 registered in class 36 and class 42.

The notification declared the launch of the eNaira as a threat and willful infringement of his client’s trademark, saying his client is now exposed to damages, loss of business and loss of goodwill.


“For this reasons, our client has approached the Federal High Court in Suit No: FHC/AB/CS/113/2021 between ENAIRA PAYMENT SOLUTIONS LIMITED vs CENTRAL BANK OF NIGERIA to seek a restraining order including an order to restrain CBN from proceeding in the launch on 1st October 2021.

“In the interim, the CBN is hereby warned to cease and desist from using or purporting to use the name eNaira for its product or in any way,” the Notice added.

Recall that the CBN has stated on several occasions that the eNaira will be launched officially on Nigeria’s Independence Anniversary day, 1st October 2021.


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