The Federal High Court in Lagos has granted Jude Okoye, the former manager of the defunct music group P-Square, a bail of N100 million. Justice Alexander Owoeye approved the bail with two sureties, each in like sum.
The court also imposed a travel restriction, ruling that Okoye must not leave the country. Additionally, one of the sureties must be the owner of a landed property, among other conditions.
Jude Okoye, who is the elder brother of Peter and Paul Okoye of P-Square, was arraigned last Wednesday by the Economic and Financial Crimes Commission (EFCC) on charges of money laundering involving N1.38 billion, $1 million, and £34,537.59. He was charged alongside his company, Northside Music Limited, with seven counts of alleged financial misconduct.
The EFCC informed the court that Okoye and his company directly acquired a property located at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, in 2022. The property, valued at ₦850 million, was allegedly purchased with funds that Okoye knew, or should have reasonably known, were proceeds of unlawful activities.
