Justice Chukwujekwu Aneke of the Federal High Court in Lagos has granted bail in the sum of N20 million to renowned music executive and former manager of gospel sensation Mercy Chinwo, Ezekiel Onyedikachi, popularly known as EeZeeTee, in a fresh case brought against him by the Economic and Financial Crimes Commission (EFCC).
The EFCC is accusing the prominent music producer of being involved in an unauthorized foreign exchange transaction totaling $255,000. In a brief ruling delivered on Friday, Justice Aneke outlined the bail conditions, mandating that EeZeeTee must provide one surety who resides within Lagos and owns a landed property equivalent in value to the bail sum.
Pending full compliance with the bail terms, the court allowed EeZeeTee to remain in the custody of his legal counsel, Mr. Ojukwu Chikaosolu, for a period not exceeding 72 hours.
The case, which has drawn attention due to EeZeeTee’s notable presence in Nigeria’s gospel music scene, stems from a 14-count charge initially filed by the EFCC. The charges, centered on alleged fraudulent conversion, were later amended and streamlined into a seven-count charge, primarily accusing the defendant of conducting foreign exchange dealings without the necessary authorization from the Central Bank of Nigeria (CBN).
During the hearing, EFCC’s prosecuting counsel, Bilikisu Buhari-Bala, informed the court that in June 2023, EeZeeTee allegedly conducted a forex transaction worth \$52,895 with a certain Mr. Oladotun Olaobaju Mureke without possessing a valid license as mandated by law.
The alleged offense violates 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 carries penalties under Section 29(2) of the same legislation.
EeZeeTee has pleaded not guilty to all the charges leveled against him, signaling his intent to vigorously contest the allegations. The case has been adjourned until June 20, 2025, for the commencement of trial proceedings.
As the legal battle unfolds, the outcome may have broader implications not only for EeZeeTee’s career but also for ongoing discussions surrounding forex regulation enforcement and financial conduct within Nigeria’s entertainment industry.
