Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos, has granted former P-Square manager Jude Okoye bail in the sum of N100 million, following charges related to a N1.38 billion fraud.
Okoye, alongside his company, Northside Music Limited, is facing seven counts of money laundering brought against him by the Economic and Financial Crimes Commission (EFCC). He pleaded “not guilty” to the charges when they were read to him during his arraignment on February 26, 2025.
On Monday, Okoye’s defense lawyer, Inibehe Effiong, filed a bail application on medical grounds, asking the court to grant his client bail. However, the prosecution, led by Fanen Anum, opposed the application, arguing that Okoye posed a flight risk and might attempt to interfere with the prosecution’s witnesses.
After hearing the arguments, Justice Owoeye concluded that the charges against Okoye were bailable and granted him bail in the amount of N100 million. The court also required two sureties, each of whom must provide a sum equal to the bail and one of whom must own property within the court’s jurisdiction.
Additionally, the court ordered Okoye to notify the EFCC before traveling outside the jurisdiction. The case has been adjourned to April 14, 2025, for further proceedings.
