Jude Okoye, the former manager of the defunct music group P-Square, has been granted bail in the sum of ₦100 million by Justice Alexander Owoeye of the Federal High Court, Ikoyi, Lagos. Okoye is facing trial for alleged financial crimes, including laundering ₦1.38 billion, $1 million, and £34,537.59.
The Economic and Financial Crimes Commission (EFCC) had arraigned Okoye on the charges, to which he pleaded not guilty. Initially, he was remanded at the Ikoyi Correctional Facility. The EFCC alleged that Okoye committed the offense between 2012 and 2017, while he was the manager of P-Square.
During a recent court session, Okoye’s lawyer, Inibehe Effiong, requested that he be kept in EFCC custody pending trial. However, the prosecution counsel, Larry Peters Aso, opposed the request, citing Okoye’s potential flight risk and possible interference with witnesses. Aso argued that Okoye’s release on bail would compromise the investigation and jeopardize the trial.
The presiding judge, Alexander Owoeye, ultimately ruled in favor of the bail application but imposed strict conditions. Okoye must provide two sureties with landed properties in Lagos valued at ₦100 million each. The court must verify these properties, and Okoye is barred from traveling abroad without prior approval. Additionally, Okoye must deposit his international passport with the court and report to the EFCC every two weeks.
Okoye’s trial is scheduled to begin on April 14, 2025. His legal troubles stem from a long-standing rift between his younger twin brothers, Paul and Peter Okoye, who parted ways in 2017 after a dispute over Jude’s role as their manager.
