Twist in EFCC Case: Fraud Charges Dropped Against EeZeeTee, New Forex Violations Emerge

The Economic and Financial Crimes Commission (EFCC) has withdrawn its initial allegations of fraudulent diversion of earnings against renowned gospel music executive, Ezekiel Onyedikachi, popularly known as EeZeeTee.

Instead, the anti-graft agency filed fresh charges against him on Wednesday, this time focusing on violations related to foreign exchange regulations and failure to disclose financial transactions involving his company.

Previously, EeZeeTee, the CEO of EeZee Global Concept Ltd, had been accused of misappropriating funds belonging to gospel singer Mercy Chinwo. However, in a revised eight-count charge submitted at the Federal High Court in Lagos, the EFCC now alleges that EeZeeTee violated financial disclosure laws and engaged in unauthorised forex dealings.

The amended charges claim that EeZee Global Concept Ltd received $255,436 between 2022 and 2023 but failed to report the transactions to the Special Control Unit Against Money Laundering (SCUML).

One charge reads: “That you, Ezekiel Onyedikachi and EeZee Global Concept Ltd, in June 2023, in Lagos, within the jurisdiction of this Honourable Court, negotiated a forex transaction worth $52,895 with Mr. Oladotun Olaobaju Mureke without being an authorised currency dealer appointed by the Central Bank of Nigeria.”

Another count accuses the firm of a similar unlicensed transaction involving $18,775 with Gift Ugochi Christopher, also outside the official forex market.

EeZeeTee pleaded not guilty to all charges. His lead counsel, Chikaosolu Ojukwu (SAN), informed the court that a bail application had already been filed, urging the court to grant bail under lenient conditions. He also mentioned that an out-of-court settlement was being considered.

However, EFCC counsel Bilikisu Buhari opposed the bail request, arguing that the accused should be remanded in custody until the bail ruling is decided.

Presiding Judge, Justice Chukwujekwu Aneke, questioned the EFCC’s claim that an arrest warrant had been issued, given EeZeeTee’s voluntary court appearance. Ojukwu clarified that his client was on EFCC-administered bail and had not defied any official summons.

After hearing both sides, Justice Aneke scheduled the bail ruling for May 9, 2025, and released EeZeeTee into the custody of his legal team.

Tensions flared after the hearing as EFCC operatives attempted to rearrest EeZeeTee at the court’s exit, but the situation was diffused following the intervention of a senior agency official, allowing him to depart without incident.