The Federal High Court in Abuja has dismissed the request to stop the Central Bank of Nigeria (CBN) from using the e-naira trademark.
Justice James Kolawole Omotosho refused to grant the request put before his court by a private company, E-naira Payment Solutions Limited.
The company had dragged the CBN before the court, praying for an order of interim injunction restraining the apex bank from using the e-naira trademark on the ground of lack of ownership.
It claimed that the disputed E-naira trademark was its sole property based on the acceptance of its application for registration by the Trademark Registry of Nigeria.
The plaintiff claimed that its ownership of the trademark was being threatened by the CBN’s bid to hijack the mark, adding that it would suffer irreparable damages if the apex bank is allowed to assume ownership of the mark.
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In a motion on notice marked FHC/ABJ /CS/2021, the E-naira Payment Solutions Limited asked the court to stop CBN from communicating with the United States of America Patent and Trademark Office on the issue of the disputed trademark until the dispute is fully resolved.
It also pleaded with the court to stop the United States from processing the application of the CBN for formal registration of the E-naira trademark for the use of CBN and the Federal Government of Nigeria.
But the CBN in its defense pleaded with the court to reject the request on the ground that the E-naira trademark is a national asset that can only be owned and used by the Federal Government of Nigeria.
The apex bank claimed that the letter of acceptance of registration issued to the plaintiff in error by the Trademark Registry of Nigeria had since been voided and withdrawn through a letter dated 15th November 2021.
CBN, while describing E-naira trade mark as a National Intellectual Property, informed the court of its possession of registration certificate from the Trade Mark Registry of Nigeria in line with Section 22 of the Trade Mark Act, adding that it is on the verge of getting it registered by the United States of America Patent and Trade Mark Registry.
The bank maintained that the E-naira trademark is a sovereign asset of Nigeria that cannot be owned by an individual or private corporate body like the E-naira Payment Solutions Limited.
It faulted the ownership claims of the plaintiff, adding that there was no proof of the claim in class 36 that it registered the mark with the Trademark Registry of Nigeria.
Contrary to the claim of the plaintiff, CBN, in its defense, insisted that Nigeria would suffer huge losses in its economy and its reputation in the international community.
In his ruling on the motion, Justice James Omotosho agreed with the CBN that Nigeria’s economy would suffer more damages than the plaintiff if the request is granted
The judge held that the letter written by CBN to the USA Patent and Trademark Office not to accept the application of the plaintiff was a preservative intent aimed at protecting Nigeria’s interest and not with malicious intent as claimed by the plaintiff.
Justice Omotosho, while rejecting the request, awarded a cost of N50,000 against the plaintiff to be paid to CBN before the adjourned date for the hearing of the substantive suit.
Meanwhile, the judge has fixed June 26 for the hearing of the substantive matter.