A Federal High Court in Lagos has urged the parties involved in a N98.5 billion patent dispute to pursue an out-of-court settlement. The case involves Enterprise Logistics Speciale Limited, the Central Bank of Nigeria, the Nigeria Inter-Bank Settlement System Plc, and Avanage Nigeria Limited.
Justice Deinde Dipeolu postponed the start of the trial on Tuesday, noting that several defendants, including the CBN and Avanage Nigeria Limited, lacked legal representation. The court mandated that hearing notices be served to all parties before the matter proceeds.
Enterprise Logistics Speciale Limited and its Managing Director, Samuel Kolajo, are suing for damages, citing the unauthorized use of their patented cash management technology and a breach of a non-disclosure agreement. While the plaintiffs’ counsel, Tayo Oyetibo, SAN, expressed readiness for trial, the court invoked the Federal High Court Act to encourage mediation.
During the session, the NIBSS counsel stated that the organization operates under CBN regulations and cautioned against creating a monopoly. Conversely, Oyetibo maintained that his clients deserve protection for their significant intellectual property investments, which he claims would enhance the national cash management system.
The court has scheduled the next hearing for October 15 and 16, 2026, stipulating that trial will only move forward if settlement attempts remain unsuccessful.
