An interim restraining order filed by eNaira Payment Solutions Limited has been dismissed.

The company had filed the restraining order against the Central Bank of Nigeria’s, CBN, on the use of the “eNaira” trademark.

The judge of the Federal High Court in Abuja, Justice James Omotosho on Friday delivered the ruling on a motion on notice filed by the firm against the CBN and others.

Recall that the company sought an order of interim injunction restraining the Central Bank of Nigeria, the first defendant, from further asserting any rights to the eNaira mark in the United States or any other foreign jurisdiction, including in relation to goods, before the United States Patent and Trademark Office, pending the hearing and determination of its substantive suit in Nigeria.

The company’s request reads, “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.”

Additionally, the plaintiff sought an order of interim injunction directing the USPTO, the Trademark Trial and Appeal Board, or any other relevant U.S. authority to halt proceedings or decision-making related to the eNaira mark until the suit in Nigeria is concluded.

The firm also asked the court to mandate the CBN to refrain from representing the term “eNaira” as a sovereign asset or legal tender of Nigeria in any jurisdiction and to stop any further attempts to prevent its registration of the eNaira name or trademark in any country.

Meanwhile, in response, CBN’s legal team disagreed with the firm over eNaira trademark use.

The apex bank argued that the eNaira trademark cannot be owned by a private entity, as it represents a national asset, having been launched as a digital currency by the Federal Republic of Nigeria.

Consequently, in the ruling on the interim motion, Justice Omotosho stated that he would consider the “balance of convenience” in line with relevant laws.

He explained that the balance of convenience refers to which party would suffer more harm if the application were granted or refused.

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 the Nigerian economy would suffer significantly if the interim application were granted, with potentially severe damage to the country’s interests.

The judge concluded that 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 held that the plaintiff had not presented a compelling case, and the application was refused for lacking merit.

The court subsequently adjourned the matter to June 26, 2025, for the hearing of the substantive suit.

Recall that in 2021, CBN launched its digital currency, known as eNaira, to boost financial inclusion.