N98.5bn patent suit: Court directs CBN, NIBSS, others to explore settlement

By Innocent Anaba
LAGOS —A Federal High Court sitting in Lagos has encouraged parties in a high-stakes N98.5 billion patent infringement suit involving Enterprise Logistics Speciale Limited, the Central Bank of Nigeria, CBN, Nigeria Inter-Bank Settlement System Plc, NIBSS, and Avanage Nigeria Limited to explore an amicable settlement before proceeding with trial.
The trial judge, Justice Deinde Dipeolu, declined to commence the hearing on Tuesday after observing that the 1st, 3rd and 4th defendants were not represented by counsel.
The plaintiffs, Enterprise Logistics Speciale Limited and its Managing Director, Samuel Kolajo, are seeking about N98.5 billion in damages over the allege...