Lagos, Nigeria: A Federal High Court in Lagos has granted bail in the sum of N20 million to Ezekiel Onyedikachi, also known as EeZeeTee, the former manager of gospel artist Mercy Chinwo. Onyedikachi is facing trial over allegations of illegal foreign exchange dealings filed by the Economic and Financial Crimes Commission (EFCC).
Justice Chukwujekwu Aneke, who presided over the case, ruled on Friday that the bail must be secured by a surety residing in Lagos and possessing property of equal value. The court had earlier released the defendant to the custody of his counsel, Mr. Ojukwu Chikaosolu, pending fulfillment of the bail conditions within 72 hours.
The EFCC refiled a seven-count amended charge against Onyedikachi, having initially submitted a 14-count charge. The revised allegations pertain to unauthorized foreign exchange transactions, in violation of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act.
According to prosecuting counsel Bilikisu Buhari-Bala, the defendant allegedly conducted a forex deal valued at $52,895 in June 2023 with one Mr. Oladotun Olaobaju Mureke, despite lacking the requisite authorization from the Central Bank of Nigeria.
The charges contravene Sections 5 and 29(1)(c) of the Act, and are punishable under Section 29(2).
Onyedikachi has pleaded not guilty to all charges. The case has been adjourned to June 20, 2025, for commencement of trial.
By Taiwo Olatinwo/ May 9, 2025
Discover more from DnewsInfo
Subscribe to get the latest posts sent to your email.
