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The Economic and Financial Crimes Commission (EFCC) has arraigned Ezekiel Onyedikachukwu, popularly known as Thankgod, the former manager of popular gospel singer Mercy Chinwo, before the Federal High Court in Lagos on charges bordering on money laundering and unauthorized foreign exchange transactions totaling $255,446.
Onyedikachukwu and his company, Eezee Global Concepts Limited, were brought before Justice Chukwujekwu Aneke on a seven-count charge filed by EFCC prosecutors. The charges allege that the defendants engaged in illegal forex dealings without proper licensing from the Central Bank of Nigeria (CBN), as well as failed to comply with mandatory financial reporting regulations set by the Special Control Unit Against Money Laundering (SCUML).
According to prosecuting counsel Bilikisu Buhari-Bala, the alleged infractions span from March 2021 through 2024. The EFCC claims that:
In March 2021, Onyedikachukwu and his company illegally negotiated a foreign exchange transaction involving $70,000 with Avalan Chetrase 1307 Company without authorization from the CBN.
In October 2022, the defendants allegedly entered into another unauthorized forex deal worth $18,775 with one Gift Ugochi Christopher.
In June 2023, the EFCC alleges Onyedikachukwu conducted a forex transaction of $52,895 with Mr. Oladotun Olaobaju Mureke while not being a licensed forex dealer — a violation of Sections 5 and 29(1)(c) of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Cap F34, Laws of the Federation of Nigeria, 2004.
Further, the EFCC accuses Onyedikachukwu and Eezee Global Concepts of failing to make required declarations of financial activity to SCUML, a regulatory agency under the EFCC tasked with monitoring non-financial institutions for compliance with anti-money laundering laws.
In 2022, the company allegedly failed to report financial flows totaling $65,703 through its corporate account. In 2023, another undeclared inflow of $52,350 was recorded in their Zenith Bank account (No. 5070522520). Most recently, in 2024, the defendants are said to have received $137,383 through the same account without reporting to SCUML.
These actions allegedly contravene Sections 6(1)(a) and 19(1)(f) of the Money Laundering (Prevention and Prohibition) Act, 2022, and are punishable under Section 19(2)(b) of the same legislation.
During the arraignment, Onyedikachukwu pleaded not guilty to all charges. Prosecutor Buhari-Bala urged the court to remand the defendant in custody, citing his previous evasion of legal service and the existence of a subsisting arrest warrant.
However, defense counsel, Senior Advocate of Nigeria (SAN) Chikaosolu Ojukwu, presented a bail application dated February 28, 2025. He appealed for leniency, stating that the defendant is the sole caregiver for his two ill children and requested that he be granted bail on liberal terms. He also asked that the defendant be temporarily released into his custody pending the ruling on the bail application.
In response, the EFCC’s counsel strongly opposed the bail application, emphasizing that the defendant had intentionally evaded legal proceedings and therefore did not deserve bail. Nonetheless, the prosecution acknowledged the court’s discretion and suggested that an accelerated trial could be considered if bail were to be denied.
Justice Aneke adjourned ruling on the bail application to May 9, 2025, and granted the request by the defense counsel to temporarily take custody of the defendant until that date.
The case underscores the EFCC’s renewed efforts to clamp down on unregulated forex transactions and money laundering operations, particularly involving high-profile individuals and entertainment industry stakeholders.
The trial is expected to continue with further hearings scheduled after the ruling on the bail application. If convicted, Onyedikachukwu and his company could face significant penalties, including fines and imprisonment, under Nigeria’s anti-money laundering laws.
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