Court Urges Settlement In N98.5bn Patent Suit Against CBN, NIBSS

The Federal High Court in Lagos has urged parties in a N98.5 billion patent infringement suit involving the Central Bank of Nigeria and the Nigeria Inter-Bank Settlement System to explore settlement before trial proceeds.

Justice Deinde Dipeolu declined to begin trial after noting that some defendants, including the CBN, Avanage Nigeria Limited and the Registrar of Patents and Designs, were not represented by lawyers.

The plaintiffs, Enterprise Logistics Speciale Limited and its managing director Samuel Kolajo, are seeking about N98.5 billion over alleged infringement of patented cash management technology, alleged breach of a non-disclosure agreement and claimed losses from non-deployment of their solution.

Premium Times reported that NIBSS argued it operates under CBN regulatory oversight and cannot make unilateral decisions on access to its infrastructure. Vanguard reported that the judge directed hearing notices to be served on absent defendants.

The matter was adjourned until October 15 and 16, 2026, for trial if the parties fail to reach an out-of-court settlement.

Sources: Premium Times, Vanguard