Home Finance CBN is being sued by a company for using the term ENaira

CBN is being sued by a company for using the term ENaira

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CBN is being sued by a company for using the term ENaira

CBN is being sued by a company for using the term ENaira

Unsolicited cease-and-desist letters have been issued to the Central Bank of Nigeria (CBN) about the use of the term “eNaira” for its upcoming digital currency, which is expected to be deployed soon.

Olakule Agbebi Esq signed the stop and desist notification to the Central Bank of Nigeria, which was titled Infringement of Trademark & Violation of Corporate Name cease and desist Notification to the Central Bank of Nigeria on behalf of Olakule Agbebi & Co.

This comes just two days after CBN officially launched the enaira.com website, which has already received more than one million hits.

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Enaira Payment Solutions Limited (RC 508500) has been in operation since the 7th of April, 2004, according to the Notification from the solicitor. The company is registered in the classes 36 and 42 of the Companies Act.

It asserted that the introduction of the eNaira represents a threat to his client’s trademark and demonstrates deliberate infringement of his client’s trademark. The warnings further stated that his client is now subject to damages, loss of business, and loss of goodwill as a result of the situation.

As a result, our client has filed a suit in the Federal High Court in Suit No: FHC/AB/CS/113/2021 between ENAIRA PAYMENT SOLUTIONS LIMITED vs CENTRAL BANK OF NIGERIA to seek an injunction, including an order prohibiting CBN from proceeding with the launch scheduled for October 1, 2021, according to the Notice.

“In the interim, the Central Bank of Nigeria (CBN) is now advised to halt and desist from using or purporting to use the name eNaira for its product or in any other way,” the Notice stated.

What are your opinion and thoughts ?

 

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An Information technology (IT) professional who is passionate about technology and building Inspiring the company’s people to love development, innovations, and client support through technology. With expertise in Quality/Process improvement and management, Risk Management. An outstanding customer service and management skills in resolving technical issues and educating end-users. An excellent team player making significant contributions to the team, and individual success, and mentoring. Background also includes experience with Virtualization, Cyber security and vulnerability assessment, Business intelligence, Search Engine Optimization, brand promotion, copywriting, strategic digital and social media marketing, computer networking, and software testing. Also keen about the financial, stock, and crypto market. With knowledge of technical analysis, value investing, and keep improving myself in all finance market spaces. Pioneer of the following platforms were I research and write on relevant topics. 1. https://publicopinion.org.ng 2. https://getdeals.com.ng 3. https://tradea.com.ng 4. https://9jaoncloud.com.ng Simeon Bala is an excellent problem solver with strong communication and interpersonal skills.

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