The Federal High Court in Abuja has dismissed the request to stop the Central Bank of Nigeria (CBN) from using thee-naira trade mark .
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 e-naira trade mark on the ground of lack of ownership.
It claimed that the disputed E-naira trade mark was its sole property based on the acceptance of its application for registration by the Trade Mark Registry of Nigeria.
The plaintiff claimed that its ownership of the trade mark was being threatened by the CBN’s bid to hijack the mark, adding that it would suffer irredeemable damages if the apex bank is allowed to assume ownership of the mark.
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 Trade Mark Office on the issue of the disputed trade mark 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 E-naira trade mark 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 E-naira trade mark 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of registration issued to the plaintiff in error by the Trade Mark Registry of Nigeria had since been voided and withdrawn through a letter dated 15th November 2021.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 E-naira trade mark 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 Trade Mark Registry of Nigeria.
Contrary to the claim of the plaintiff, CBN in its defense insisted that Nigeria would suffer huge loss in her economy and her 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 USA Patent and Trade Mark Office not to accept the application of the plaintiff was a preservatory 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 hearing of the substantive matter.
