E-Naira: Company Sues CBN For Trademark Infringement

A stop and desist notification has been despatched to the Central Financial institution of Nigeria (CBN) regarding the usage of the title “eNaira.”

That is in response to a doc seen by Nairametrics titled: “Infringement of Trademark & Violation of Company Title stop and desist Notification to the Central Financial institution of Nigeria.” The  discover was signed by Olakule Agbebi Esq for Olakule Agbebi & Co .

This improvement comes after the profitable deployment of the Centre Financial institution Enaira web site and days away from the activation of the eNaira itself.

What is going on?
Based on the Notification from the solicitor, his shopper  “ENAIRA PAYMENT SOLUTIONS LIMITED (RC 508500)” has been included since seventh April 2004 registered in school 36 and sophistication 42.

It acknowledged that the launch of the eNaira is a risk and reveals willful infringement of his shopper’s trademark. The notices additionally added that his shopper is now uncovered to damages, lack of enterprise and lack of goodwill.

“For this causes, our shopper has approached the Federal Excessive Courtroom in Go well with No: FHC/AB/CS/113/2021 between ENAIRA PAYMENT SOLUTIONS LIMITED vs CENTRAL BANK OF NIGERIA to hunt a restraining order together with an order to restrain CBN from continuing within the launch on 1st October 2021,”  the Discover acknowledged.

The Discover added, “Within the interim, the CBN is hereby warned to stop and desist from utilizing or purporting to make use of the title eNaira for its product or in any approach.”

Recall that the CBN has acknowledged on a number of events that the eNaira will likely be launched formally on Nigeria’s Independence Anniversary day, 1st October 2021.