CBN suspends eNaira pilot launch

Despite high anticipations, the Central Bank of Nigeria has postponed the pilot launch of eNaira.

Mr Osita Nwanisobi, the spokesperson of the apex bank said that the planned unveiling slated for today has now been deferred due to other key activities lined up to commemorate the country’s 61st Independence Anniversary. However, he did not announce a new date.

According to him, the CBN took the decision to postpone the launch in deference to the mood of national rededication to the collective dream of One Nigeria.

While assuring the general public that there was no cause for alarm, he said the CBN and it partners are 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.

This postponement is coming after a cease and desist notification was sent to the Central Bank of Nigeria (CBN) concerning the use of the name 'eNaira.' by ENaira Payment Solutions Limited stating 'Infringement of Trademark & Violation of Corporate Name'. However, the Central Bank of Nigeria has not made any public comment on the lawsuit.

The Guardian reported that a Federal High Court sitting in Abuja has given a go-ahead for the eNaira launch considering its significance to the national economy.