22.5.2026
A Federal High Court in Abuja on Friday, issued an order permanently restraining a company, eNaira Payment Solutions Ltd, from parading itself as the registered proprietor of the trademark, “eNaira.”
In his judgement, Judge James Omotosho also granted a counterclaim of the Central Bank of Nigeria (CBN) and awarded N10 million against the company.
Mr Omotosho ordered eNaira Payment Solutions Ltd to immediately change its name to another distinct name that does not use the word “Naira,” the Nigerian currency.
The judge agreed with the defendants’ arguments that though the company had been incorporated since 2004, it had a misleading name.
He held that “the name chosen by the plaintiff on its incorporation is in the circumstances unregistrable due to the misleading nature of the name which suggests government’s patronage.”
The judge held that the Corporate Affairs Commission (CAC) was, therefore, right to issue the directive to the company to change its name in line with Section 852(2)(a) and (b) of the Companies and Allied Matters Act (CAMA), 2020.
eNaira Payment Solutions Ltd had, in the suit marked FHC/ABJ/CS/1113/2021, sued the CBN, the Registrar of Trademarks and the Registrar General of CAC.
In the amended suit filed on 5 April 2024, the plaintiff brought 17 prayers including a N90.10 billion in damages.
It prayed the court to restrain the defendants from withdrawing the trademark, “eNaira,” from it and stopping the CBN from claiming or conferring ownership of the name on itself.
It described the acts of the defendants as unconstitutional takeover of its personal property which it had maintained for over 20 years, among other reliefs.
But the CBN filed a further amended statement of defence and a counter-claim on 5 July 2024, marked FHC/ABJ/CS/1591/2021.
The central bank sought five reliefs, including, a perpetual order restraining the company from parading itself as the registered proprietor of the Trademark “eNaira”.
The CBN sought an order directing the company to pay it N20 billion as general damages for the colossal global embarrassment caused by the company claiming proprietorship of a trademark that does not belong to it.
It also sought an award of N200 million for the cost of prosecuting the suit.
Besides, the CAC, in its statement of defence and counter-claim filed on 2 May 2024, sought an order directing the company to change its name to another distinct name without the use of the word, “Naira.”
In establishing its case, the plaintiff called one witness, the CBN and CAC also called a witness each while parties tendered documentary evidence as exhibits.
Delivering a consolidated judgement in the suits, Justice Omotosho observed that the Trademark Registry, through a letter dated Nov. 15, 2021, had written to eNaira Ltd canceling and withdrawing the acceptance letters issued to the company in respect of applications for eNaira in class 36 and 42.
He observed that the registry had directed for the withdrawal on the grounds that “eNaira is a national intellectual property and constitutes a symbol and national asset of Nigeria.” NAN
