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

Justice James Omotosho of the Federal High Court in Abuja issued a permanent injunction on Friday that bars eNaira Payment Solutions Ltd from presenting itself as the registered owner of the trademark “eNaira.”

In the same judgment, the judge granted the Central Bank of Nigeria’s counterclaims and imposed a fine of N10 million on eNaira Payment Solutions Ltd, the plaintiff in the case.

The court ordered the company to change its name immediately to a distinct one that does not include the word “Naira.”

Justice Omotosho concurred with the defendants’ position that, although the company was incorporated in 2004, its name was misleading.