In a dramatic twist in the legal battle involving popular gospel music executive Ezekiel Onyedikachi, widely known as EeZeeTee, the Economic and Financial Crimes Commission (EFCC) has withdrawn earlier fraud allegations tied to singer Mercy Chinwo’s earnings and filed fresh charges over financial disclosure violations
The EFCC initially accused the EeZee Global Concept Ltd CEO of misappropriating funds belonging to Chinwo. However, on Wednesday, the commission submitted an amended eight-count charge at the Federal High Court in Lagos, focusing on alleged breaches related to foreign exchange transactions and failure to report financial activities to regulators.
According to the new filing, EeZeeTee is accused of engaging in unauthorized forex dealings and failing to disclose company transactions to the Special Control Unit Against Money Laundering (SCUML) between 2022 and 2023. The company reportedly received a total of $255,436 in its corporate account during that period.
One charge reads: “That you, Ezekiel Onyedikachi and EeZee Global Concept Ltd, sometime in June 2023 in Lagos… not being an authorized buyer of foreign currency appointed by the Central Bank of Nigeria… negotiated a foreign exchange transaction to wit: the naira equivalent of the sum of $52,895 with Mr. Oladotun Olaobaju Mureke.”
Another charge accuses him of conducting a similar transaction worth $18,775 with one Gift Ugochi Christopher, bypassing the official forex market.
EeZeeTee pleaded not guilty to all the charges during his arraignment. His lead counsel, Chief Chikaosolu Ojukwu (SAN), informed the court that a bail application had been filed and served, requesting lenient bail terms and disclosing ongoing efforts to settle the case out of court.
EFCC’s counsel, Bilikisu Buhari, opposed the bail request and urged the court to remand the defendant pending its determination. Justice Chukwujekwu Aneke, who is presiding over the case, inquired about EeZeeTee’s appearance in court, to which the EFCC responded that a warrant had been issued. Ojukwu, however, countered that his client had been granted administrative bail and appeared voluntarily.
Justice Aneke adjourned the ruling on the bail application to May 9, 2025, and ordered that EeZeeTee be released to his counsel in the meantime.
Tensions rose outside the courtroom when EFCC operatives attempted to rearrest EeZeeTee at the court gate. The situation was deescalated following the intervention of a senior EFCC official, allowing him to leave the premises without further incident.
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