The Federal High Court in Lagos has granted N100m bail to Jude Okoye, the former manager of the popular music group P-Square, in a case involving alleged money laundering.
Jude Okoye, who is the elder brother of Peter and Paul Okoye, was arraigned by the Economic and Financial Crimes Commission (EFCC) on seven counts, including directly acquiring a landed property valued at ₦850 million with funds suspected to be proceeds of unlawful activities.
Justice Alexander Owoeye granted the bail with two sureties in like sum, one of whom must be the owner of a landed property. The court also ruled that Jude Okoye must not travel out of the country. The EFCC alleged that Jude Okoye, along with his company, Northside Music Limited, committed the offense in 2022.
The case is ongoing, and Jude Okoye’s bail is a significant development. Paul Okoye, Jude’s brother, has publicly blamed Peter Okoye for Jude’s detention, seeking his elder brother’s release. The management of P-Square has, however, denied Peter Okoye’s involvement in Jude’s case.
This case highlights the EFCC’s efforts to combat money laundering and financial crimes in Nigeria. The commission has been actively prosecuting cases involving alleged financial misconduct, and this case is one of the latest examples.