On Friday, the Federal High Court in Abuja denied eNaira Payment Solutions Limited’s request for an interim restraining order against the Central Bank of Nigeria’s (CBN) use of the “eNaira” trademark.
A notice motion filed by the firm against the CBN and others was decided by Justice James Omotosho.
In order to prevent the Central Bank of Nigeria (the first defendant) from further claiming any rights to the eNaira mark in the United States or any other foreign jurisdiction, including with regard to goods, the company requested an order of interim injunction from the USPTO. This order was necessary while its substantive suit in Nigeria was being heard and decided.
Court Case
Jonathan Kenneth Adoke, the CEO of E-Naira Payment Solutions Limited, petitioned the court for an order compelling the CBN to immediately stop communicating or interacting with the USPTO or any other foreign authority about the eNaira trademark while the Nigerian court decides the suit before it.
Also, the company asked for:
“An order of interim injunction directing the Central Bank of Nigeria to notify the United States Patent and Trademark Office—pending the hearing and decision of the substantive suit—of the ongoing litigation concerning the Nigerian eNaira trademark and its subjudice status.”
The plaintiff further requested an order of temporary injunction, which would require the USPTO, the Trademark Trial and Appeal Board, or any other appropriate U.S. authority to stop any further actions or decisions pertaining to the eNaira mark until the Nigerian lawsuit was resolved.
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Additionally, the firm requested that the court order the CBN to stop any further attempts to stop its registration of the eNaira name or trademark in any country and to abstain from representing the word “eNaira” as a Nigerian sovereign asset or legal tender in any jurisdiction.
According to the plaintiff, he is the legitimate owner of the eNaira trademark, and the trademark registry approved his application for registration.
The CBN legal team responded by stating that because the Federal Republic of Nigeria introduced the eNaira as a digital currency, the trademark cannot be owned by a private company because it is a national asset.
What the Judge Said
Judge Omotosho said he will weigh the “balance of convenience” in accordance with applicable legislation while rendering a decision on the interim request.
According to him, the balance of convenience measures which party would be more negatively impacted if the application were approved or denied.
In a previous letter to the U.S. Trademark Office, the CBN claimed that the eNaira was a Nigerian national asset, the judge observed.
He claimed that the CBN’s move was preservative.
He added that the country’s interests might be seriously harmed and that the Nigerian economy would be severely hurt if the interim application were approved.
According to the judge, the plaintiff’s application would damage Nigeria’s economy and reputation abroad.
“Today, the court decided that if this application is approved, the CBN would be put in an irreversible position,” he continued.
According to the judge, “the plaintiff’s application fails.”
He determined that the plaintiff had failed to make a strong argument, and the application was dismissed for lack of merit.
The hearing of the substantive suit was then postponed by the court until June 26.
Additional Details
The eNaira, Nigeria’s central bank digital currency, was introduced in October 2021 as a component of the nation’s financial inclusion initiatives.
Additionally, the CBN’s cashless policy was anticipated to be promoted by the digital naira.
