Jude Okoye Granted Bail Ahead of Trial for Fraud Charges
A Federal High Court located in Ikoyi, Lagos has approved bail for Jude Okoye, the older sibling and former manager of the now-defunct musical group P-Square, in the amount of N100 million as he awaits trial on allegations of fraud.
Okoye was brought before the court by the Economic and Financial Crimes Commission (EFCC), facing charges of laundering a staggering N1.38 billion, $1 million, and £34,537.59. He entered a not guilty plea and was initially held at the Ikoyi Correctional Facility under the direction of Justice Alexander Owoeye.
During the proceedings, Okoye’s lawyer, Inibehe Effiong, requested that his client be placed in EFCC custody instead of jail, a motion that was opposed by the prosecution, represented by counsel Larry Peters Aso. On Friday, the defense formally submitted a bail application, which the prosecution countered with an affidavit expressing concerns that Okoye might flee or tamper with potential witnesses.
On Monday, Justice Owoeye ruled in favor of granting bail, but imposed strict conditions: Okoye must secure two sureties, each owning property in Lagos valued at N100 million. The court will need to validate the ownership documents before bail is finalized. Additionally, Okoye is forbidden from leaving Nigeria without court approval.
Justice Owoeye noted that Okoye will remain in custody until he fulfills the bail requirements. The trial is scheduled to commence on April 14, 2025.
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