Court orders eNaira Ltd to change name, awards N10m fine against firm

Justice James Omotosho of the The Federal High Court in Abuja on Friday issued an order of perpetual injunction stopping the eNaira Payment Solutions Ltd from parading itself as the registered proprietor of the trademark, ‘eNaira’.

In a judgment on Friday, the judge also granted the Central Bank of Nigeria’s counter claims and awarded the sum of N10 million against eNaira Payment Solutions Ltd, the plaintiff in the suit.

Justice Omotosho ordered the company to immediately change its name to another distinct name without the use of the word ‘Naira’.

The judge agreed with the defendants’ arguments that though the company had been incorporated since 2004, it had a misleading name.

Court orders eNaira Ltd to change name, awards N10m fine against firm