By Deborah Nnamdi
Justice Chukwujekwu Aneke of the Federal High Court in Lagos has granted bail in the sum of N20 million to music producer and former manager of gospel singer Mercy Chinwo, Ezekiel Onyedikachi (popularly known as EeZeeTee).
The bail relates to a new charge involving an alleged $255,000 foreign exchange fraud filed by the Economic and Financial Crimes Commission (EFCC).
In a brief ruling delivered on Friday, the judge set the bail conditions, requiring one surety who must live in Lagos and possess property equal in value to the bail sum.
Justice Aneke, who had earlier released the defendant into the custody of his lawyer, Mr. Ojukwu Chikaosolu, gave EeZeeTee 72 hours to satisfy the bail terms.
The EFCC initially filed a 14-count charge against EeZeeTee for allegedly converting funds fraudulently, but later reduced the charges to seven, accusing him of conducting foreign exchange transactions without the appropriate license.
According to the EFCC’s counsel, Bilikisu Buhari-Bala, EeZeeTee allegedly conducted a forex transaction valued at $52,895 with one Mr. Oladotun Olaobaju Mureke in June 2023, without authorization from the Central Bank of Nigeria.
The prosecution claims this act contravenes Sections 5 and 29(1)(c) of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Cap F34, LFN 2004, and is punishable under Section 29(2) of the same law.
EeZeeTee pleaded not guilty to all charges. The trial has been adjourned to June 20, 2025.
