Justice Chukwujekwu Aneke of the Federal Excessive Court docket in Lagos has granted bail to Ezekiel Onyedikachi a.okay.a. Eezeetee, a music producer and former supervisor of gospel artist Mercy Chinwo, to the tune of N20 million over alleged foreign exchange fraud.
The bail was in reference to a contemporary $255,000 alleged foreign exchange transaction fraud filed towards Eezeetee by the {Economic} and {Financial} Crimes Fee (EFCC).
In a quick ruling on Friday, Justice Aneke specified that the bail situation have to be met inside 72 hours with one surety residing in Lagos who owns property equal to the bail quantity.
The decide, who had beforehand launched EeZeeTee to his lawyer, Ojukwu Chikaosolu, emphasised the need of adhering to the bail phrases.
The EFCC had initially filed a 14-count cost towards EeZeeTee for alleged fraudulent conversion.
Later they amended the fees to seven counts, accusing EeZeeTee of conducting international trade transactions with out correct authorisation.
Prosecuting counsel, Bilikisu Buhari-Bala knowledgeable the court docket that in June 2023, EeZeeTee allegedly negotiated a international trade transaction price $52,895 with one Oladotun Olaobaju Mureke with out approval from the Central Bank of Nigeria (CBN).
Based on the prosecution, the act contravenes Sections 5 and 29(1)(c) of the Overseas Change (Monitoring and Miscellaneous Provisions) Act, Cap F34, Legal guidelines of the Federation of Nigeria, 2004, punishable underneath Part 29(2) of the identical regulation.
EeZeeTee pleaded not responsible to the fees, and the case has been adjourned to June 20, 2025 for trial.
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