{"id":87488,"date":"2021-09-29T05:58:10","date_gmt":"2021-09-29T04:58:10","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=87488"},"modified":"2021-09-29T07:39:07","modified_gmt":"2021-09-29T06:39:07","slug":"enaira-firm-drags-cbn-to-court-over-trademark-infringement","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/09\/29\/enaira-firm-drags-cbn-to-court-over-trademark-infringement\/","title":{"rendered":"eNaira: Firm drags CBN to court over trademark infringement"},"content":{"rendered":"<p>A company identified as ENaira Payment Solutions Limited has dragged the Central Bank of Nigeria to a fededal high court over the name &#8216;eNaira&#8217;.<\/p>\n<p>Recall that the<span data-preserver-spaces=\"true\">\u00a0Central Bank of Nigeria (CBN) had announced that it will launch the pilot scheme of its digital currency <strong><a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/27\/cbn-initiates-website-for-enaira-nigerias-first-digital-currency\/\">(eNaira)<\/a><\/strong> by October 1, 2021.<\/span><\/p>\n<p>The apex bank on Monday launched a website &#8211; www.enaira.com.<\/p>\n<p><span data-preserver-spaces=\"true\">According to the details on the website, eNaira would aid cash distribution in the government\u2019s social welfare programmes.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The firm, through its lawyers,\u00a0<\/span><span data-preserver-spaces=\"true\">accused the CBN of trademark infringement.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This is according to a document issued by Olakunle Agbebi &amp; Co, solicitors to ENAIRA Payment Solutions Limited, notifying the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/27\/cbns-covid-interventions-account-for-3-5-of-gdp-says-emefiele\/\">CBN<\/a> to desist from using the proposed name.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWe are Solicitors to ENAIRA PAYMENT SOLUTIONS LIMITED (RC 508500) which was incorporated on the 7th of April, 2004. Our client is and remains a valid and existing legal entity having complied with the statutory requirements as regards the filing of its annual returns and the payment of company income tax,\u201d the document read.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cOur client is the holder of the Trademark \u201cENaira\u201d registered in Class 36 and Class 42. It has come to our client\u2019s notice that the Central Bank of Nigeria (CBN) has announced the planning launching of a financial under what it termed its Central Bank Digital Currency to be known as \u201ceNaira\u201d.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThis action amounts to a threat to willfully infringe on our client\u2019s Trademark. It will also amount to a violation of its corporate name i.e. ENaira Payment Solutions Ltd. The ramifications of this illegal act of the CBN are extensive.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cImportantly, the potential this has to deceive the general public into believing that this product emanated from our client\u2019s company is real and the consequences for our client are grave. The potential to expose our client to all manner of damage, loss of business and loss of goodwill is also very real.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cFor this reason, our client has approached the federal high court in suit No. FHC\/AB\/CS\/113\/2021 between ENaira Rayment Solutions Limited v Central Bank of Nigeria to seek restraining orders, including an order to restrain the CBN from proceeding with the proposed launching on the 1st of October 2021.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe CBN is hereby put on notice of the pendency of this suit and advised not to resort to self-help or present the honourable court with a fait accompli by proceeding with the proposed launching pending the hearing and determination of this suit.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIn the interim, the CBN is hereby warned to cease and desist from using or purporting to use the name \u201ceNaira\u201d for its product or in any way, form or manner infringing or threatening to infringe on our client\u2019s Trademark or violating our client\u2019s corporate name.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A company identified as ENaira Payment Solutions Limited has dragged the Central Bank of Nigeria to a fededal high court over the name &#8216;eNaira&#8217;. Recall that the\u00a0Central Bank of Nigeria (CBN) had announced that it will launch the pilot scheme of its digital currency (eNaira) by October 1, 2021. The apex bank on Monday launched [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":83554,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[16587],"tags":[658,18360,18839,2672,25],"class_list":["post-87488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cbn","tag-enaira","tag-enaira-payment-solutions-limited","tag-federal-high-court","tag-headline"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>eNaira: Firm drags CBN to court over trademark infringement<\/title>\n<meta name=\"description\" content=\"A company identified as ENaira Payment Solutions Limited has dragged the Central Bank of Nigeria to a fededal high court over the name &#039;eNaira&#039;.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/29\/enaira-firm-drags-cbn-to-court-over-trademark-infringement\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"eNaira: Firm drags CBN to court over trademark infringement\" \/>\n<meta property=\"og:description\" content=\"A company identified as ENaira Payment Solutions Limited has dragged the Central Bank of Nigeria to a fededal high court over the name &#039;eNaira&#039;. 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