The Federal High Court in Lagos, presided over by Justice Chukwujekwu Aneke, has granted bail to Ezekiel Onyedikachi, popularly known as EeZeeTee, in the sum of N20 million. EeZeeTee, a music producer and former manager of gospel artist Mercy Chinwo, is facing charges of alleged $255,000 forex transaction fraud brought against him by the Economic and Financial Crimes Commission (EFCC).
Justice Aneke set the bail conditions, requiring a surety who must be a Lagos resident and own property equivalent to the bail amount. EeZeeTee, who was initially released to his lawyer, Ojukwu Chikaosolu, has been given 72 hours to meet these conditions.
The EFCC initially filed a 14-count charge against EeZeeTee for alleged fraudulent conversion but later amended it to seven counts, accusing him of engaging in unauthorised foreign exchange transactions.
According to EFCC prosecutor Bilikisu Buhari-Bala, EeZeeTee allegedly conducted a $52,895 forex transaction with Mr. Oladotun Olaobaju Mureke in June 2023 without the required authorisation from the Central Bank of Nigeria (CBN). This act, Buhari-Bala noted, contravenes Sections 5 and 29(1)(c) of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Cap F34, Laws of the Federation of Nigeria, 2004, and is punishable under Section 29(2) of the same Act.
EeZeeTee pleaded not guilty to the charges, and the court has adjourned the case to June 20, 2025, for trial.
