Jude Okoye Granted $67K Bail in High-Profile Fraud Case

A Federal High Court in Ikoyi, Lagos, has granted Jude Okoye, the elder brother and former manager of the now-defunct music duo P-Square, a N100 million ($67,000) bail in connection with a high-profile fraud case.

Okoye faces charges brought by the Economic and Financial Crimes Commission (EFCC) for allegedly laundering a massive sum involving N1.38 billion, $1 million, and £34,537.59.

Okoye was arraigned earlier this week on charges of financial fraud, with accusations that he misappropriated and laundered millions in various currencies.

Pleading not guilty to the charges, Okoye was initially remanded in the Ikoyi Correctional Facility by Justice Alexander Owoeye.

His defense team, led by Inibehe Effiong, had requested that he be held in EFCC custody instead, but the prosecution, represented by Larry Peters Aso, argued that Okoye could pose a flight risk and potentially tamper with witnesses.

On Friday, following a hearing, Justice Owoeye ruled in favor of granting Okoye bail. However, the judge imposed strict conditions.

Okoye was required to provide two sureties, each possessing landed property in Lagos valued at N100 million ($67,000).

Additionally, the court will verify the authenticity of these property documents, and Okoye is prohibited from leaving Nigeria without the court’s permission.

Despite the bail being granted, Okoye will remain in custody until he fulfills the required bail conditions. His trial is scheduled to commence on April 14, 2025.

The case has attracted significant attention due to Okoye’s prominence in the Nigerian music industry.

As the former manager of the internationally recognized P-Square duo, his legal troubles have captured the public’s interest, with many closely monitoring the case’s progress.

As the trial date approaches, all eyes will be on the courtroom to see how the case unfolds, with both the defense and prosecution preparing for a lengthy legal battle.