- Trademark Dispute: A Federal High Court in Abuja has declined to issue an interim injunction to restrain the Central Bank of Nigeria (CBN) from using the e-Naira trademark.
- Plaintiff’s Claim: E-Naira Payment Solutions Limited claimed ownership of the e-Naira trademark, alleging that it was stolen by the CBN.
- CBN’s Response: The CBN described the e-Naira trademark as a national asset that can only be owned and used by the federal government of Nigeria and its topmost bank.
- Court’s Decision: The court refused to grant the interim injunction, allowing the CBN to continue using the e-Naira trademark.
E-Naira Payment Solutions Limited had filed a suit against the CBN, claiming that the apex bank had hijacked its idea and trademark. The company argued that it would suffer irreparable damages unless the CBN was stopped from further infringing on its proprietary right to the trademark. However, the CBN countered that the e-Naira trademark is a national asset and that the letter of acceptance of registration issued to the plaintiff had been voided and withdrawn.
The court’s decision allows the CBN to continue using the e-Naira trademark, pending the full resolution of the dispute. The CBN had urged the court to dismiss the matter for want of competence, emphasizing that the e-Naira trademark is a national asset that cannot be owned by a private company.
