Following months of controversies over rights control, the Federal High Court sitting in Abuja, has granted the Central Bank of Nigeria (CBN) full ownership of the eNaira digital currency platform.

It would be recalled that the eNaira digital currency platform was launched by the previous Muhammadu Buhari administration under the watch of Mr Godwin Emefiele, the then Governor of the CBN on October 25, 2021.

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The digital currency was hailed as the fifth digital currency to be launched in the world and the first in Africa.

The eNaira is a Central Bank Digital Currency (CBDC) issued by the Central Bank of Nigeria as a legal tender.

However, years after it official launch, the platform has been engulfed in an ownership tussle.

Meanwhile, the Federal High Court in Abuja, on Friday, ruled in favour of the CBN, further granting it exclusive ownership rights over the eNaira digital currency platform.

Delivering judgment, Justice James Omotosho issued a perpetual injunction restraining a private firm, eNaira Payment Solutions Limited, from further presenting itself as the registered proprietor of the ‘eNaira’ trademark.

The court held that although the company was incorporated in 2004 by the Corporate Affairs Commission (CAC), its use of a name closely linked to Nigeria’s sovereign currency was misleading and not legally registrable.