EeZeeTee

A Federal High Court sitting in Lagos has granted ₦20 million bail to gospel music producer and former manager of singer Mercy Chinwo, Ezekiel Onyedikachi, popularly known as EeZeeTee, in connection with a $255,000 foreign exchange fraud case.

Justice Chukwujekwu Aneke, who presided over the matter on Friday, ordered that the bail must be secured with one surety who resides in Lagos and owns property valued at the same amount. The judge, who initially released the defendant to his counsel, Ojukwu Chikaosolu, gave EeZeeTee 72 hours to fulfil the bail conditions.

The Economic and Financial Crimes Commission (EFCC) had filed a seven-count charge against the defendant, accusing him of engaging in unauthorised foreign exchange transactions.

According to EFCC prosecutor Bilikisu Buhari-Bala, EeZeeTee allegedly conducted a $52,895 transaction with one Oladotun Olaobaju Mureke in June 2023, without approval from the Central Bank of Nigeria (CBN). The EFCC said this violated 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 is punishable under Section 29(2) of the same act.

EeZeeTee pleaded not guilty to the charges. The matter has been adjourned till June 20, 2025, for trial.