News

June 20, 2025

$397k FX Case: EFCC, EeZee Tee move towards settlement

$397k FX Case: EFCC, EeZee Tee move towards settlement

…As court adjourns to Sept 26

By Henry Ojelu

LAGOS — The Federal High Court sitting in Ikoyi, Lagos, on Friday, adjourned till September 26 the hearing in the case involving celebrated gospel music executive, Dr. Ezekiel Onyedikachukwu ThankGod, popularly known as EeZee Tee, in a development that suggests a possible amicable resolution of the matter.

Mr. ThankGod, who has played a key role in shaping Nigeria’s gospel music industry through his company, EeZee Global Concepts Limited, is standing trial on an amended seven-count charge preferred against him by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC), over alleged infractions relating to foreign exchange transactions and money laundering amounting to $397,106.

The alleged transactions, which date back to June 2023,  stem from technical interpretations of regulatory frameworks governing foreign exchange transactions rather than any intent to defraud.

One of the charges alleges that Mr. ThankGod engaged in a foreign exchange transaction with a private individual, Mr. Oladotun Olaobaju Mureke, without the requisite authorization from the Central Bank of Nigeria. Specifically, the charge alleges that a sum of $52,895 was exchanged contrary to the provisions of the Foreign Exchange Monitoring and Miscellaneous (Provisions) Act, Cap F34, LFN 2004.

At Friday’s proceedings, the prosecution, led by counsel Bilkisu Buhari-Bala, called its first witness, Mohammed Timta.

However, the hearing took a significant turn when the defence counsel, Chief Chikaosolu Ojukwu (SAN), informed the court that both parties were “on the verge of reaching an agreement” and requested one final opportunity to conclude ongoing discussions aimed at resolving the matter out of court.

“If we are unable to reach a resolution, the prosecution will commence full trial,” the defence counsel assured.

Justice Chukwujekwu Aneke, in response, granted the request and adjourned the matter to September 26, 2025, to allow both sides conclude talks.