EnairaThe Central Bank of Nigeria (CBN), has postponed the launch of Nigeria’s Digital Currency, eNaira, which was earlier scheduled to hold today.
The postponement was announced by Mr Osita Nwanisobi, the apex bank’s Director of Corporate Communications.
According to him, the CBN took the decision to postpone the launch, which had been initially planned to coincide with the 61st Independence anniversary celebration in consideration of other activities lined up to commemorate the day.
The postponement also comes in the wake of a cease and desist notification sent to the apex bank concerning the use of the name “eNaira.”
The document titled: “Infringement of Trademark & Violation of Corporate Name cease and desist Notification to the Central Bank of Nigeria,” was signed by Olakunle Agbebi Esq for Olakunle Agbebi & Co .
Nwanisobi said there is no cause for concern, as the CBN and other partners are dedicated to ensuring a smooth process that benefits customers in general, particularly those in rural regions and the unbanked.
He said with the eNaira, Nigerians will be able to send money to each other’s eNaira wallets as well as pay for goods and services at selected merchants and that it will limit the use of currency and ensure the Nigerian economy’s stability.
Meanwhile, a Federal High Court sitting in Abuja has given a go-ahead for the eNaira launch.
ENaira Payment Solutions Limited brought the case (FHC/ABJ/CS/113/2021), against the Central Bank of Nigeria (CBN) over a claim of trademark infringement.
At the hearing which came up on Thursday at the Federal High Court 8 presided over by Justice Taiwo Abayomi Taiwo, the defendant’s, counselled by D. D. Dodo (SAN), urged the court to strike out the plaintiff’s motion seeking to restrain the launch of the central bank digital currency (CBDC), otherwise known as eNaira, considering its significance to the national economy.
The court was not disposed to striking out the motion but held that the launch of the digital currency could go ahead in the interest of the country, especially as the plaintiff could be adequately compensated.
The matter was adjourned to October 11, 2021, for further hearing.
