Justice Chukwujekwu Aneke of the Federal High Court in Lagos has granted bail to popular music producer and former manager of gospel star Mercy Chinwo, Ezekiel Onyedikachi, also known as EeZeeTee. The bail, set at N20 million, comes in relation to a fresh $255,000 foreign exchange fraud case filed by the Economic and Financial Crimes Commission (EFCC).
In a brief ruling on Friday, Justice Aneke ordered that EeZeeTee must provide one surety residing in Lagos who owns property equal in value to the bail sum. Previously, EeZeeTee had been temporarily released to his lawyer, Mr. Ojukwu Chikaosolu, and now has 72 hours to meet the bail conditions.
Originally facing a 14-count charge for alleged fraudulent conversion, the EFCC later amended the case to seven counts, accusing EeZeeTee of conducting unauthorized forex transactions. According to EFCC prosecutor Bilikisu Buhari-Bala, EeZeeTee engaged in a $52,895 forex deal in June 2023 with one Mr. Oladotun Olaobaju Mureke, without approval from the Central Bank of Nigeria (CBN).
The alleged offense violates sections of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act and carries legal penalties. EeZeeTee has pleaded not guilty, and the court has adjourned the case to June 20, 2025, for trial.
