Music producer and former manager of gospel singer Mercy Chinwo, Mr.Ezekiel Onyedikachukwu ThankGod a.k.a EeZeeTee has been granted a N20m bail in the fresh charges of forex transaction fraud brought against him by the Economic and Financial Crimes Commission (EFCC).
Justice Chukwujekwu Aneke granted the bail order during a hearing of the case at a Federal High Court sitting in Lagos Friday.
The EFCC had initially filed a 14-count charge against EeZeeTee for alleged fraudulent conversion but later amended the charge to seven counts, accusing him of engaging in foreign exchange transactions without a license.
Prosecuting counsel Bilikisu Buhari-Bala told the court that in June 2023, EeZeeTee, without authorization from the Central Bank of Nigeria (CBN), negotiated a foreign exchange transaction worth $52,895 with one Mr. Oladotun Olaobaju Mureke.
This, she argued, 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 case has been adjourned to June 20, 2025, for trial.
