A Lagos Federal High Court has granted Jude Okoye, former manager of the disbanded music group P-Square, bail in the sum of N100 million ($67,000) as he faces charges of alleged fraud. The Economic and Financial Crimes Commission (EFCC) brought charges against Okoye for laundering N1.38 billion, $1 million, and £34,537.59.
Initially remanded in the Ikoyi Correctional Facility, Okoye pleaded not guilty to the charges. His lawyer, Inibehe Effiong, had requested he be kept in EFCC custody, but the prosecution opposed the request. At a recent hearing, the defense filed a bail application, and the prosecution argued that Okoye could be a flight risk and might interfere with witnesses.
The judge ruled in favor of granting bail, with conditions requiring Okoye to provide two sureties, each with landed property in Lagos worth N100 million. The court will verify the property documents, and Okoye is prohibited from leaving Nigeria without approval. Okoye will remain in custody until he meets the bail conditions, with the trial scheduled to begin on April 14, 2025.
