Jude Okoye, the former manager of the now-defunct P-Square music group, has been granted bail of ₦100 million ahead of his trial for alleged financial fraud.
Okoye, who was arraigned by the Economic and Financial Crimes Commission (EFCC) for allegedly laundering ₦1.38 billion, $1 million, and £34,537.59, pleaded “not guilty” to the charges.
Following his arraignment, Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos, initially remanded him in custody. Although his legal team sought for him to remain in EFCC custody, the prosecution opposed the request, citing concerns that he might interfere with witnesses.
During Monday’s hearing, the judge approved Okoye’s bail under the following conditions:
- He must provide two sureties with landed properties worth ₦100 million each in Lagos.
- The court must verify the property documents.
- He is prohibited from traveling outside Nigeria without approval.
Until these conditions are met, Okoye will remain in prison. His trial is scheduled to commence on April 14, 2025.
This case is intertwined with the long-standing feud between Jude’s younger twin brothers, Peter and Paul Okoye (formerly P-Square). Their dispute, which led to the group’s split in 2017, reignited last year when Paul accused Peter of orchestrating Jude’s arrest, while Peter countered with allegations that Jude had secretly siphoned millions from their shared account.