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Company sues CBN for using the name ‘ENaira’



A cease and desist letter has been sent to the Central Bank of Nigeria (CBN) regarding the use of the name “eNaira for its soon to be launched digital currency.

The notice titled Infringement of Trademark & Violation of Corporate Name cease and desist Notification to the Central Bank of Nigeria was signed by Olakule Agbebi Esq for Olakule Agbebi & Co .

This is coming two days after CBN officially put website live with over one million visits reported.

According to the Notification from the solicitor, his client  “ENAIRA PAYMENT SOLUTIONS LIMITED (RC 508500)” has been incorporated since 7th April 2004 registered in class 36 and class 42.

Read also: What you should know about Nigeria’s eNaira, as govt to monitor transactions

It stated that the launch of the eNaira is a threat and shows willful infringement of his client’s trademark. The notices also added that 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,”  the Notice stated.

The Notice added, “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”.

Ripples Nigeria had earlier reported that a similar domain owner is demanding N4.2 million ($10,000) for anyone interested in buying its

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