Court grants Mercy Chinwo’s ex-manager EeZeeTee N20m bail
By Jeffrey Agbo
A Federal High Court in Lagos has granted Ezekiel Onyedikachi (EeZeeTee), music producer and former manager of gospel artiste, Mercy Chinwo, N20million bail in a fresh $255,000 alleged forex transaction fraud brought against him by the Economic and Financial Crimes Commission (EFCC).
Justice Chukwujekwu Aneke ruled on Friday that the bail condition includes one surety who must reside in Lagos and owns a property worth the bail sum.
The judge, who on Wednesday released the music producer to his lawyer, Ojukwu Chikaosolu, gave him 72 hours to meet the bail condition.
The EFCC earlier filed a 14 count charge against EeZeeTee for alleged fraudulent conversion but amended the charge to a seven-count charge bordering on engaging in foreign exchange transactions without a license.
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Prosecuting counsel, Bilikisu Buhari-Bala, told the court that in June 2023, the defendant, without being an authorised foreign exchange dealer appointed by the Central Bank of Nigeria (CBN) negotiated a foreign exchange transaction worth $52,895 with one Oladotun Mureke.
This, according to her, violates 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 case has been adjourned till June 20, 2025 for trial.
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