A Federal High Court in Abuja has dismissed a motion by E-Naira Payment Solutions Limited seeking to stop the Central Bank of Nigeria (CBN) from using the eNaira trademark. The ruling, delivered on Friday by Justice James Kolawole Omotosho, sided with the apex bank, citing broader national interest and economic implications.
Key Details:
- Plaintiff’s Claim:
E-Naira Payment Solutions Ltd argued that it is the rightful owner of the eNaira trademark, having received an acceptance letter from the Trademarks Registry of Nigeria. The company sought an interim injunction to:- Restrain the CBN from using the name “eNaira”
- Stop the CBN from contacting the U.S. Patent and Trademark Office (USPTO)
- Block the USPTO from processing CBN’s eNaira registration
- CBN’s Defence:
The Central Bank:- Asserted that eNaira is a sovereign asset tied to Nigeria’s national currency
- Presented its own registration certificate from the Nigerian Trademarks Registry
- Explained that the earlier acceptance letter to the plaintiff had been withdrawn in November 2021
- Warned of significant economic and reputational losses if the injunction were granted
- Court’s Decision:
Justice Omotosho ruled that:- The balance of convenience favored the CBN, as halting its use of the eNaira trademark could hurt Nigeria’s economy
- The CBN’s letter to the USPTO was a protective measure, not an act of bad faith
- The plaintiff failed to show sufficient evidence that it registered the trademark under Class 36 (financial services)
- Cost Awarded:
The court ordered the plaintiff to pay N50,000 in legal costs to the CBN.
Next Steps:
- The substantive case has been scheduled for hearing on June 26, 2025.
