CBN postpones launch of eNaira

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THE Central Bank of Nigeria (CBN) has postponed the launch of its digital currency, eNaira. The CBN’s Director of Corporate Communications, Osita Nwanisobi, disclosed this in a statement last night. The apex bank had initially fixed October 1 for the launch of the digital currency. The postponement came just two days after a firm, ENaira Payment Solutions Limited, filed a lawsuit against the CBN at the Federal High Court, Abuja, for using the name “eNaira.” In a document signed by its lawyers, Olakunle Agbebi & Co, the company accused the apex bank of trademark infringement for adopting the eNaira. It asked the CBN to desist from using the proposed name. However, it is unclear if the postponement has anything to do with the lawsuit. But Nwanisobi insisted that there was no cause for concern, saying the CBN and other partners are determined to ensure a smooth process that benefits customers, particularly those in rural regions. He said: “Nigerians will be able to send money to each other’s eNaira wallets as well as pay for goods and services at selected merchants. “The eNaira will limit the use of currency and ensure the Nigerian economy’s stability.”

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