By Ikechukwu Nnochiri
The Federal High Court sitting in Abuja, on Friday, granted the Central Bank of Nigeria (CBN) sole ownership rights to the eNaira digital currency platform.
The court, in a judgment delivered by Justice James Omotosho, issued an order of perpetual injunction to restrain a private firm, eNaira Payment Solutions Limited, from further parading itself as the registered proprietor of the “eNaira” trademark.
It held that although the company had been registered with the Corporate Affairs Commission (CAC) since 2004, its choice of a name associated with Nigeria’s sovereignty was potentially misleading.
“The name chosen by the plaintiff on its incorporation is in the circumstances unregistrable due to the misleading nature of the name, which suggests government patronage,” Justice Omotosho added.
He held that evidence before the court established that the Trademark Registry, via a letter dated November 15, 2021, had notified the company about the cancellation an
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