adsThe Federal High Court in Abuja has ruled in favour of the Central Bank of Nigeria (CBN) in a trademark dispute involving eNaira Payment Solutions Ltd, ordering the company to stop presenting itself as the owner of the “eNaira” trademark and to change its corporate name.
Justice James Omotosho, in a judgment delivered on Friday, granted the counterclaims filed by the CBN and the Corporate Affairs Commission (CAC) and awarded N10 million in damages against the company.
The court ordered eNaira Payment Solutions Ltd to adopt a new name excluding the word “Naira,” holding that the company’s name was misleading and implied affiliation with the Nigerian government or the CBN.
“The name chosen by the plaintiff on its incorporation is unregistrable due to its misleading nature, which suggests government patronage,” the judge ruled.
The case arose from a suit filed by eNaira Payment Solutions Ltd against the CBN, the Registrar of Trademarks, and the CAC, seeking to restrain the authorities from withdrawing its claim to the “eNaira” trademark.adsads
