Mercy Chinwo’s ex-manager, EeZeeTee granted ₦20m bail over alleged $397,106 forex fraud

The Federal High Court in Lagos has granted the former manager of gospel recording artist and performer Mercy Chinwo, Ezekiel ThankGod Onyedikachukwu, popularly known as EeZeeTee, bail in the sum of ₦20 million over allegations of a $397,106 foreign exchange transaction fraud.

According to Justice Chukwujekwu Aneke who presided over the case on Friday, the bail must be secured with one surety who resides in Lagos and owns property of equal value.

The court gave EeZeeTee 72 hours to meet the condition, following his earlier release to his lawyer, Mr Ojukwu Chikaosolu.

Recall that the Economic and Financial Crimes Commission (EFCC) initially charged EeZeeTee with 14 counts of fraudulent conversion but later amended the charges to seven counts, accusing him of engaging in unlicensed foreign exchange transactions.

The prosecuting counsel, Bilikisu Buhari-Bala, stated, “In June 2023, the defendant, without authorisation from the Central Bank of Nigeria (CBN), negotiated a foreign exchange transaction worth $52,895 with one Mr Oladotun Olaobaju Mureke.”

She affirmed that this act 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.

While EeZeeTee pleaded not guilty to the amended charges, the case has been adjourned to 20 June 2025 for trial.

The music promoter was arraigned on Wednesday before Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos.

According to the EFCC, ThankGod, along with his company, Eezee Global Concepts Limited, is standing trial on an amended seven-count charge bordering on alleged foreign exchange malpractice and money laundering, amounting to $397,106.

The defendant was previously standing trial before Justice Owoeye of the Federal High Court in Ikoyi before the matter was reassigned to Justice Aneke.