The Federal High Court in Abuja, on Friday, dismissed an interim motion by eNaira Payment Solutions Limited seeking to restrain the Central Bank of Nigeria from using the “eNaira” trademark.

Justice James Omotosho ruled on the motion on notice, declining to grant the restraining order against the CBN and other parties.

The case concerns alleged trademark infringement over the name “eNaira,” which is currently used for Nigeria’s official digital currency.

eNaira Payment Solutions Limited sought an interim injunction to stop the CBN from asserting rights to the “eNaira” trademark in the United States or any other foreign jurisdiction, specifically before the U.S. Patent and Trademark Office.

The company asked the court to restrain the CBN from claiming ownership of the mark internationally, particularly regarding its use for goods, pending the resolution of the substantive suit in Nigeria.

The firm also requested, “An order of interim injunction directing the Central Bank of Nigeria to notify the United States Patent and Trademark Office of the ongoing litigation concerning the eNaira trademark in Nigeria and its sub judice status, pending the hearing and determination of the substantive suit.”

In its motion, the company requested an interim injunction from the Federal High Court, seeking to: Restrict the CBN from asserting any rights to the “eNaira” trademark in the United States or any other foreign jurisdiction, particularly in relation to goods, until the main case in Nigeria is resolved.

Additionally, the plaintiff sought an order of interim injunction directing the United States Patent and Trademark Office (USPTO), the Trademark Trial and Appeal Board (TTAB), or any other relevant U.S. authority to suspend all proceedings or decision-making concerning the ‘eNaira’ mark pending the determination of the suit in Nigeria.

The firm further urged the court to issue an order restraining the Central Bank of Nigeria (CBN) from presenting ‘eNaira’ as a sovereign asset or legal tender of Nigeria in any jurisdiction, and from undertaking any further actions to hinder or oppose the registration of the ‘eNaira’ name or trademark in any country.

The plaintiff claims ownership of the eNaira trademark, stating that his application for its registration was accepted by the trademark registry.

In response, the Central Bank of Nigeria argued that the eNaira trademark cannot be owned by a private individual, as it represents a national asset, being the official digital currency launched by the Federal Republic of Nigeria.

In ruling on the interim motion, Justice Omotosho stated that he would assess the “balance of convenience” in accordance with applicable laws.

He clarified that this principle involves determining which party would incur greater harm if the application were either granted or denied.

The judge noted that the CBN had already written to the U.S. Trademark Office, asserting that the eNaira is a national asset of Nigeria.

“The action of the CBN is preservatory,” he said.

He further stated that granting the interim application would severely impact the Nigerian economy, potentially causing significant damage to the country’s interests.

The judge concluded that approving the plaintiff’s application would harm Nigeria’s economy and tarnish its international reputation.

“Today, the court rules that the CBN would be placed in an irreversible position if this application is granted,” he added.

“The plaintiff’s application fails,” the judge ruled.

He ruled that the plaintiff had failed to present a strong case, and consequently, the application was dismissed for lacking merit.

The court has adjourned the matter to June 26 for the hearing of the substantive suit.