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Nigeria Court Approves CBDC Rollout: Report
The court ruled that the rollout of the CBDC was a matter of national interest and should proceed.
A federal court in Abuja, Nigeria, approved the rollout of the country’s central bank digital currency (CBDC), the eNaira.
- The decision was disclosed Oct. 2 by Justice Taiwo Abayomi, state-run broadcaster Voice of Nigeria reportedhttps://von.gov.ng/2021/10/03/cbn-court-gives-nod-for-rollout-of-e-naira/ Sunday
- The Central Bank of Nigeria had previously received a cease and desist letter concerning the name “eNaira” from ENaira Payment Solutions, which claimed a trademark infringement.
- The court ruled that the rollout of the CBDC was a matter of national interest and should proceed. However, it also set a date for a further hearing on Oct. 11, Voice of Nigeria said.
- The digital currency was originally set to be launched on Oct. 1 but was postponed until Oct. 4 in deference to the former date coinciding with the country’s 61st anniversary of independence.
STORY CONTINUES BELOW
Read more: Nigeria’s CBDC: The Good, Bad and Ugly
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
