The Federal High Court in Lagos has granted bail to Ezekiel ThankGod Onyedikachukwu, popularly known as EeZeeTee, the former manager of renowned gospel artist Mercy Chinwo.
EeZeeTee is facing allegations of involvement in a foreign exchange transaction fraud totaling $397,106.
The court, presided over by Justice Chukwujekwu Aneke, set EeZeeTee’s bail at ₦20 million, with a condition that he must provide one surety who resides in Lagos and possesses property of equal value.
The court further instructed that EeZeeTee must meet this bail condition within 72 hours, following his temporary release to his lawyer, Mr. Ojukwu Chikaosolu.
The case against EeZeeTee was initiated by the Economic and Financial Crimes Commission (EFCC), which initially charged him with 14 counts of fraudulent conversion.
However, the charges were later reduced to seven counts, focusing on allegations of engaging in unlicensed foreign exchange transactions.
According to the EFCC, EeZeeTee, through his company Eezee Global Concepts Limited, was involved in unauthorized foreign exchange dealings and money laundering, amounting to $397,106.
These transactions, the commission claimed, violated Nigeria’s foreign exchange laws and regulations.
Bilikisu Buhari-Bala, the prosecuting counsel representing the EFCC, provided detailed accusations against EeZeeTee during the court proceedings.
“In June 2023, the defendant, without authorization from the Central Bank of Nigeria (CBN), negotiated a foreign exchange transaction worth $52,895 with one Mr. Oladotun Olaobaju Mureke,” she stated.
The prosecution argued that this unauthorized transaction breached Sections 5 and 29(1)(c) of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Cap F34, Laws of the Federation of Nigeria, 2004.
It also highlighted that such violations are punishable under Section 29(2) of the same Act.
Despite the allegations, EeZeeTee has maintained his innocence, pleading not guilty to the amended seven-count charge.
His lawyer, Mr. Ojukwu Chikaosolu, argued for his client’s release on bail, emphasizing that EeZeeTee is prepared to defend himself against the charges.
The court, after considering the arguments from both sides, decided to grant him bail but imposed strict conditions to ensure his compliance.
Justice Aneke’s decision to grant bail was met with a mix of relief from EeZeeTee’s supporters and cautious optimism from his legal team.
The court’s directive also indicated that if EeZeeTee fails to meet the bail conditions within the stipulated 72 hours, he could be remanded in custody pending the next hearing.
The trial has been scheduled for June 20, 2025, when the prosecution is expected to present its case in detail, including evidence of the alleged unauthorized transactions.
The defense team, on the other hand, has vowed to challenge the allegations and clear EeZeeTee’s name, insisting that the transactions were legitimate and authorized.
This case has drawn significant attention, not only because of EeZeeTee’s connection to Mercy Chinwo, a popular gospel music star, but also due to the serious nature of the charges.
Foreign exchange fraud is a serious offense in Nigeria, often linked to broader concerns about economic regulation and financial misconduct.
The EFCC has made it clear that it is committed to ensuring that anyone involved in such violations is held accountable.
The commission’s relentless pursuit of the case against EeZeeTee reflects its broader mandate to combat financial crimes.
As the trial date approaches, the Nigerian public will be watching closely to see how the case unfolds. For EeZeeTee, the outcome of this legal battle could significantly impact his career and reputation.
For the EFCC, the case represents another high-profile effort to clamp down on financial crimes.
As both sides prepare for a legal showdown, the stage is set for a closely-watched trial that could set a precedent for how similar cases are handled in the future.
