Federal High Court Restrains eNaira Payment Solutions Ltd from Using ‘eNaira’ Trademark
Justice James Omotosho of the Federal High Court, Abuja, on Friday issued a perpetual injunction restraining eNaira Payment Solutions Ltd from parading itself as the registered proprietor of the trademark “eNaira.”
In his judgment, the court upheld the counter‑claims of the Central Bank of Nigeria (CBN), awarded ₦10 million in damages against the plaintiff, and directed the company to immediately adopt a distinct name that excludes the word “Naira.”
The court agreed with the CBN’s submissions that, although the company had been incorporated since 2004, its name was misleading and capable of creating confusion in the financial and regulatory space. By using “eNaira,” the company’s identity conflicted with the CBN’s official digital currency initiative, thereby infringing on trademark and regulatory clarity.
