A Federal High Court in Ikoyi, Lagos, has granted Jude Okoye, the elder brother and former manager of the defunct music group P-Square, bail set at N100 million ahead of his trial for alleged fraud.
Okoye was arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of laundering N1.38 billion, $1 million, and £34,537.59. He pleaded not guilty and was initially remanded at the Ikoyi Correctional Facility by Justice Alexander Owoeye.
During the hearing, Okoye’s counsel, Inibehe Effiong, requested that he remain in EFCC custody, but the prosecution, led by Larry Peters Aso, opposed the request, arguing that he posed a flight risk and could interfere with witnesses.
On Monday, the judge ruled in favor of bail, setting conditions that require Okoye to provide two sureties with landed properties in Lagos worth N100 million each. The court must verify the property documents, and Okoye cannot travel outside Nigeria without court approval.
Justice Owoeye ordered that Okoye remain in custody until he meets the bail conditions. His trial is set to commence on April 14, 2025.
