A Federal High Court in Abuja on Friday dismissed a motion seeking to block the Central Bank of Nigeria (CBN) from asserting rights to the “eNaira” trademark in the United States and other jurisdictions, siding with the apex bank in a case that pits national sovereignty against private trademark claims.
Justice James Omotosho, ruling on an interim injunction filed by eNaira Payment Solutions Limited, held that granting the request could cause irreversible harm to Nigeria’s economy and reputation, emphasizing that the eNaira, as a digital currency launched by the Nigerian government, is a sovereign asset.
The applicant, led by CEO Jonathan Kenneth Adoke, had sought a court order restraining the CBN from engaging with the U.S. Patent and Trademark Office (USPTO) or representing the eNaira name internationally, pending the resolution of its substantive suit in Nigeria.
Among other requests, the plaintiff asked the court to:
- Stop the CBN from asserting ownership of the eNaira trademark abroad.
- Order the CBN to notify U.S. authorities of ongoing litigation in Nigeria.
- Direct U.S. agencies such as the USPTO and Trademark Trial and Appeal Board to suspend any action on the eNaira trademark.
Adoke’s company argued that it had registered the “eNaira” name prior to the central bank’s use of it, and thus held legal rights to the trademark. The company claimed the CBN’s representation of the term as a national asset infringed on its intellectual property.
However, the CBN’s legal team countered, asserting that the eNaira is a government-backed digital currency, and as such, no private individual or company can claim ownership of its name or branding. The bank had already made representations to the USPTO affirming the currency’s official status as a national asset.
In his ruling, Justice Omotosho agreed with the central bank’s stance.
“The action of the CBN is preservatory,” he said. “The Nigerian economy would suffer greatly if this application were granted.”
The court ruled that the “balance of convenience” favored the CBN, stating that halting the bank’s international assertions could irreparably damage Nigeria’s digital currency initiative and its global standing.
“The plaintiff’s application fails. It lacks merit and is hereby refused,” the judge declared.
The substantive case was adjourned to June 26, 2025, for hearing.
Background
The eNaira, launched in October 2021, is Nigeria’s official Central Bank Digital Currency (CBDC) and one of the first of its kind in Africa. The currency was introduced to enhance financial inclusion, support a cashless economy, and modernize payment systems.
The legal tussle raises critical questions about digital sovereignty, intellectual property, and the global recognition of state-backed innovations in the fintech space.
