The Economic and Financial Crimes Commission (EFCC) on Wednesday re-arrested Ezekiel Onyedikachukwu, the former manager of gospel singer Mercy Chinwo, along with his company, Eezee Global Concepts Limited, before the Federal High Court in Lagos over allegations of money laundering totalling $255,446.
The EFCC docked Onyedikachukwu on a seven-count charge of engaging in foreign exchange transactions without a license.
The prosecutor, Bilikisu Buhari-Bala, informed the trial judge, Justice Chukwujekwu Aneke, that the defendant, in June 2023, negotiated a foreign exchange transaction worth $52,895 with one Oladotun Mureke, despite not being an authorised foreign exchange dealer appointed by the Central Bank of Nigeria (CBN).
She maintained that the offence 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.
The defendant, however, pleaded not guilty to the charge.
After his plea was taken, Buhari-Bala urged the court to remand the defendant in the Nigerian Correctional Service’s custody pending the trial’s conclusion.
However, defence lawyer, Chikaosolu Ojukwu (SAN) informed the court that he had filed a bail application dated February 28, 2025.
In his argument for bail, Ojukwu highlighted that the defendant’s two children are ill and that he is their primary caregiver.
He also urged that the court grant bail on liberal terms and allow the defendant to be released to him pending the fulfilment of bail conditions.
The prosecution opposed the bail application, stating that the defendant had previously evaded service of the charge and that an arrest warrant against him remains active.
She said, “My lord, this defendant has been evading service, and there is still a subsisting arrest warrant against him. Our firm position is that he does not deserve to be granted bail. However, the court may consider ordering an accelerated hearing.”
Justice Aneke reserved a ruling on the bail application until May 9, 2025, and, as requested, temporarily handed the defendant over to his attorney.
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