E Naira: Company Sues CBN over Trademark Infringement, Issues Cease and Desist Notice

ENaira Payment Solutions Limited has approached the Federal High Court in Suit No. FHC/AB/CS/113/2021 BETWEEN ENaira Payment Solutions Limited V Central Bank of Nigeria, to seek restraining orders including an order to restrain the CBN from proceeding with its proposed launching , of the Central Bank Digital Currency to be known as “ENaira”, on the 1st of October 2021.

ENaira Payment Solutions Limited is reported to be a valid and existing legal entity incorporated in the Corporate Affairs Commission on the 4th of April 2004. They also claim to be trademark holders of the name “ENaira” registered in class 36 and in class 42.

This is coming hours after the website of Nigeria’s digital currency, eNaira, went live.

It went live on Monday in preparation for its official launch, coming on October 1 as earlier disclosed by the Central Bank of Nigeria governor, Godwin Emefiele.

The site, on its welcome note said the eNaira is a Central Bank of Nigeria-issued digital currency that provides a unique form of money denominated in Naira.

He said from October 1, Nigerians should be able to download the eNaira application from either Google play store or Apple app store.

“They should be able to find their wallets using their bank accounts and conduct transactions such as transfers and purchases at merchant outlets that have boarded to the platform,” he said.


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