The Central Bank of Nigeria has released itself from all liability in the event that users of the newly introduced digital currency, eNaira, lose money on the platform.

Peoples Gazette examined the eNaira website (https://www.enaira.gov.ng/) and discovered a number of restrictions preventing the apex bank from being named as a party in any future lawsuits if consumers suffer losses when using the digital currency.

“In no event will the CBN or its directors, officers, employees, independent contractors, affiliates or agents, or any of its or their respective service providers, be liable to you or any third party for any use, interruption, delay or inability to use the eNaira website, lost revenues or profits, delays, interruption or loss of services, business or profits, delays, interruption or loss of services, business or profits,” the limitation of liability clause stated.

According to the CBN’s terms of service, users of the eNaira website must defend it against any “action, cause, claim (and) damage” if they suffer losses.

The Gazette reviewed the website’s terms and conditions of service, noting a number of disclaimers and limitations of liability in the event of customer losses.

Users who signed up to use and transact with the digital currency agreed to take full responsibility for actions taken on their accounts, according to an indemnification clause in the ‘Privacy Policy and Terms of Use’ section.

The apex bank also issues disclaimers regarding the accuracy, completeness, and timeliness of information on the digital currency website, stating that it “will not promise that any of the materials on this website are accurate, complete, or current.”

“CBN or its authorised representative will not be held accountable for any damages that arise from the use or inability to use the materials on eNaira’s website,” the regulatory bank added, “even if CBN or its authorised representative has been notified, orally or in writing, of the possibility of such damage.”