The Federal High Court in Abuja has issued a ruling that nullifies the name of eNaira Payment Solutions Ltd, prohibiting the company from presenting itself as a registered entity. In addition to this injunction, the court has imposed a fine of 10 million naira in favor of the Central Bank of Nigeria (CBN). This decision underscores the legal authority of the CBN in matters related to the regulation of payment systems within the country. The court's ruling aims to protect the integrity of the eNaira brand and the financial system at large.
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