(High Court. Photo by Daily Nigeria)
A Federal High Court in Abuja has issued a permanent injunction barring eNaira Payment Solutions Ltd from laying claim to the trademark “eNaira,” with Justice James Omotosho delivering the ruling on Friday.
In the same judgment, the court upheld the counter-claims filed by the Central Bank of Nigeria (CBN) and ordered eNaira Payment Solutions Ltd which had originally brought the suit to pay damages of ₦10 million.
Justice Omotosho further directed the company to promptly change its name to something entirely different, with a specific prohibition on the use of the word “Naira” in any new name it adopts.
The judge sided with the arguments put forward by the defendants, agreeing that despite the company having been legally incorporated since 2004, its name was misleading and capable of causing confusion.
