The Central bank of Nigeria (CBN) has postponed the planned official launch of eNaira.
The postponement of the launch of the digital currency was disclosed on Thursday by the Spokesman of the bank, Mr. Osita Nwanisobi. He said that the planned unveiling scheduled for today, October 1 has now been deferred due to other key activities lined up for country’s 61st Independence Anniversary.
No new date has been announced for the launch yet.
The statement by Nwanisobi read in part, “The CBN took the decision to postpone the launch, which had been initially planned to coincide with the Independence anniversary, in deference to the mood of national rededication to the collective dream of One Nigeria.”
He said the CBN and other partners were working round the clock to ensure a seamless process that will be for the overall benefit of the customer, particularly those in the rural areas and the unbanked population, while assuring that there was no cause for alarm.
Highlighting the benefits of the eNaira, Mr. Nwanisobi stressed that Nigerians would ease peer-to-peer transfer to another person’s eNaira wallet, as well as, pay for goods and services at selected merchants, once launched.
He added that the eNaira would also help reduce the use of cash and ensure stability of the Nigerian economy.
In another development, a Federal High Court sitting in Abuja has given a go-ahead for the eNaira launch, despite subsisting litigation over its patent right.
eNaira Payment Solutions Limited brought the case (FHC/ABJ/CS/113/2021), against the Central Bank of Nigeria (CBN) over a claim of trademark infringement.
In a hearing on Thursday, at the Federal High Court 8 presided over by Justice Taiwo Abayomi Taiwo.
The defendant’s counselled by D. D. Dodo (SAN) urged the court to strike out the plaintiff’s motion seeking to restrain the launch of the central bank digital currency (CBDC), otherwise known as eNaira, considering its significance to the national economy.
Ruled that the court was not disposed to striking out the plaintiff’s motion as argued by the defendant’s counsel by D. D. Dodo (SAN). However, it held that the launch of the digital currency could go ahead in the interest of the country, especially as the plaintiff could be adequately compensated.
The matter was adjourned to October 11, 2021, for further hearing.
Olakunle Agbebi & Co, solicitors to ENaira Payment Solutions, had insisted that the trade name, eNaira, was incorporated on April 7, 2004, and it remained a valid and existing legal entity has complied with the statutory requirements as regards the filing of its annual returns and the payment of company income tax since then.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.