A tense courtroom exchange unfolded on Monday as the Economic and Financial Crimes Commission (EFCC) pushed back against a bail application for Ezekiel Onyedikachuwu Thankgod, who is facing charges related to unauthorized foreign exchange dealings totaling over $120,000.
The defence team urged the Federal High Court to grant bail on liberal terms and sought the release of the defendant into counsel’s custody while bail conditions are being finalized.
Defence counsel further revealed that both parties are actively negotiating an out-of-court settlement.
But EFCC counsel Buhari-Bala fiercely objected, urging the court to remand Thankgod in custody, citing a subsisting arrest warrant and claims that the defendant had previously evaded service of court processes.
“My lord, this defendant has been evading service, and there is still a subsisting arrest warrant against him. It is our firm position that he does not deserve to be granted bail,” Buhari-Bala argued.
He, however, suggested the court may opt for an accelerated hearing instead.
Countering, the defence argued that Thankgod had previously been granted administrative bail by the EFCC and voluntarily appeared in court.
The lawyer also challenged the EFCC’s claim of evasion, stating that there was no evidence of a formal invitation that his client had ignored.
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Following submissions from both sides, Justice Aneke reserved ruling on the bail application until May 9, 2025.
Meanwhile, he ordered that the defendant be released into his lawyer’s custody pending that decision.
The courtroom calm was briefly interrupted after the session when EFCC operatives attempted to rearrest the defendant at the court gate, causing a minor stir.
The situation was quickly deescalated, and the defendant was allowed to leave without incident.
Thankgod and his company, Eezee Global Concepts Limited, face two counts of engaging in unauthorized foreign exchange transactions.
The EFCC alleges that in June 2023, they negotiated the naira equivalent of $52,895 with one Mr. Oladotun Olaobaju Mureke, and in March 2021, entered into a similar $70,000 transaction with Avalan Chetrase 13 07 Company — all without CBN authorization.
The alleged offenses violate Sections 5 and 29(1)(c) of the Foreign Exchange Monitoring and Miscellaneous (Provisions) Act and are punishable under Section 29(2) of the same law.