Rita Odafe
EeZeeTee
A Lagos Federal High Court has approved a bail of N20 million for Ezekiel Onyedikachi, popularly known as EeZeeTee, who previously managed gospel singer Mercy Chinwo. He is facing new allegations involving a $255,000 forex fraud, brought forth by the Economic and Financial Crimes Commission (EFCC).
On Friday, Judge Aneke outlined the bail terms, stipulating that a surety is required who must live in Lagos and possess real estate valued at the bail amount. The judge earlier released the music producer to his attorney, Mr. Ojukwu Chikaosolu, and allowed him 72 hours to satisfy the bail requirements.
Initially, the EFCC charged EeZeeTee with 14 counts related to fraudulent activities, but later modified the accusations to seven counts focused on unlicensed foreign exchange dealings.
During the court proceedings, prosecuting lawyer Bilikisu Buhari-Bala stated that in June 2023, EeZeeTee engaged in a foreign exchange deal worth $52,895 without the necessary authorization from the Central Bank of Nigeria (CBN).
This transaction allegedly 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, punishable under Section 29(2) of the same law.
EeZeeTee has entered a plea of not guilty. The trial is set to resume on June 20, 2025.
