A Federal High Court in Abuja has refused to stop the Central Bank of Nigeria (CBN) from using the e-Naira trademark after a private company, E-Naira Payment Solutions Limited, asked for an interim order.
The company claimed it owned the e-Naira name, accusing the CBN of taking it without permission.
The case came before Justice James Omotosho, who gave the ruling. The private firm argued that its application to register the e-Naira trademark had been accepted by the Trademark Registry of Nigeria, making it the rightful owner.
It warned that the CBN’s continued use of the name would cause it serious damage.
The company also asked the court to stop the CBN from communicating with the United States Patent and Trademark Office (USPTO) until the matter was resolved and to prevent the US office from processing the CBN’s application for official registration.
In response, the CBN told the court that the lawsuit lacked merit.
It described the e-Naira trademark as a national asset that belongs to the federal government and the CBN alone.
The bank added that the earlier acceptance letter given to the private company by Nigeria’s Trademark Registry was later canceled in a letter dated November 15, 2021.
The CBN also said it had obtained its own registration certificate from the Trademark Registry under section 22 of the Trademark Act and was close to getting the trademark registered in the United States.
According to the bank, allowing the company’s request would harm Nigeria’s economy and reputation.
After considering the arguments, Justice Omotosho sided with the CBN.
He ruled that the letter the bank sent to the USPTO was meant to protect Nigeria’s interest and was not an act of bad faith.
The court therefore denied the company’s request and ordered it to pay the CBN a cost of N50,000 before the main case can proceed.
The court set June 26 for the hearing of the main suit.
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