Court Grants EeZeeTee ₦20m Bail
THECONSCIENCE NG reports that the Federal High Court in Lagos has granted ₦20 million bail to music producer and former manager of gospel singer Mercy Chinwo, Ezekiel Onyedikachi, popularly known as EeZeeTee, following fresh allegations of a $255,000 foreign exchange fraud.
Justice Chukwujekwu Aneke, in a ruling delivered on Friday, ordered that the bail be secured with one surety who resides in Lagos and owns property of equal value. The court also gave EeZeeTee 72 hours to meet the bail conditions. He was earlier released into the custody of his lawyer, Ojukwu Chikaosolu.
The Economic and Financial Crimes Commission (EFCC) initially filed 14 counts against EeZeeTee for alleged fraudulent fund conversion, later reducing the charges to seven. The revised charges accuse him of engaging in foreign exchange transactions without proper licensing.
According to EFCC prosecutor Bilikisu Buhari-Bala, EeZeeTee allegedly conducted a $52,895 forex deal with one Oladotun Olaobaju Mureke in June 2023 without approval from the Central Bank of Nigeria (CBN). The EFCC claims this contravenes Sections 5 and 29(1)(c) of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act and is punishable under Section 29(2).
EeZeeTee pleaded not guilty. The trial is scheduled to continue on June 20, 2025.
