The CBN has postponed the launch of the eNaira currency

The launch of Nigeria’s digital currency, eNaira, has been postponed by the central bank of Nigeria (CBN).

Osita Nwanisobi, the CBN’s Director of Corporate Communications, made the announcement last night in a statement.

The date for the launch of the digital currency had been set by the apex bank for October 1.

The postponement came just two days after ENaira Payment Solutions Limited filed a lawsuit in the Federal High Court of Abuja against the CBN for using the name “eNaira.”

The company accused the apex bank of trademark infringement in a document signed by its lawyers, Olakunle Agbebi & Co, for adopting the eNaira.

It requested that the CBN refrain from using the proposed name.

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However, it is unclear whether the postponement is related to the lawsuit.

Nwanisobi, on the other hand, insisted that there was no reason to be concerned, claiming that the CBN and other partners are committed to ensuring a smooth process that benefits customers, particularly those in rural areas.

“Nigerians will be able to send money to each other’s eNaira wallets and pay for goods and services at select merchants,” he said.

“The eNaira will limit the use of currency and ensure the stability of the Nigerian economy.”