Justice Chukwujekwu Aneke of the Federal High Court in Lagos has granted music producer and former manager of gospel artist, Mercy Chinwo, Ezekiel Onyedikachi also known as EeZeeTee N20million bail in a fresh $255,000 alleged forex transaction fraud charge brought against him by the Economic and Financial Crimes Commission, EFCC.
In a short ruling on Friday, Justice Aneke held that the bail condition includes one surety who must reside in Lagos and owns a property worth the bail sum.
The judge who had on Wednesday released EeZeeTee to his lawyer, Ojukwu Chikaosolu (SAN) gave him 72 hours within which he must meet the bail conditions.
In an amended charge, The EFCC accused he and his company, Eezee Tee global concepts Ltd, of negotiating forex transactions totalling 141,670 USD with certain persons at various intervals, without a license.
The alleged offences are said to be contrary to sections 5 and 29(1)(c) of the Foreign Exchange Monitoring and Miscellaneous (Provisions) Act Cap F34 LFN 2004, and punishable under Section 29(2) of the same Act.
He’s also accused of failing to submit to the Special Control Unit Against Money Laundering a declaration of his company’s activities between 2022 and 2024, within which period the total sum of $255,436 was paid into his firm’s bank account, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under section 19 (2)(b) of the same Act.
EeZeeTee pleaded not guilty to the seven-count charge.
The case has been adjourned till June 20, 2025 for trial.
