A Federal High Court in Ikoyi, Lagos, has granted Jude Okoye, the elder brother and former manager of the defunct music duo 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.
His lawyer, Inibehe Effiong, requested that he be kept in EFCC custody instead, but the prosecution counsel, Larry Peters Aso, opposed the request, arguing that Okoye could flee or interfere with witnesses.
During Monday’s hearing, the judge ruled in favor of granting bail but imposed strict conditions. Okoye must provide two sureties, each owning landed property in Lagos worth N100 million, and the court must verify the property documents. Additionally, he is barred from leaving Nigeria without court approval.
Justice Owoeye ordered that Okoye remain in custody until he meets the bail conditions. His trial is scheduled to begin on April 14, 2025.
