Alleged N1.38bn fraud: Court grants ex-P-Square manager Jude Okoye N100m bail
Justice Alexander Owoeye of the Federal High Court, Ikoyi, Lagos, has granted bail in the sum of N100 million to the former manager of the defunct music group P-Square, Jude Okoye Chigozie.
Jude Okoye is standing trial alongside his company, Northside Music Limited, on seven counts of charges related to money laundering.
The charges were brought against him by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC.
He pleaded “not guilty” when the charges were read to him upon his arraignment on 26th February 2025.
During Monday’s proceedings, his defence counsel, Inibehe Effiong, moved his client’s bail application on medical grounds, urging the court to grant it.
However, the prosecuting counsel, Fanen Anum, opposed the application, asking the court to deny it and instead grant an accelerated hearing.
“He is a flight risk and may interfere with the prosecution’s witnesses,” Anum argued.
After considering all submissions, Justice Owoeye noted that the charges against Okoye were bailable and granted him bail in the sum of N100 million, with two sureties in like sum. One of the sureties must own landed property within the court’s jurisdiction.
The court further ordered that Okoye must notify EFCC before travelling outside the jurisdiction.
The case was adjourned until 14th April 2025.
Alleged N1.38bn fraud: Court grants ex-P-Square manager Jude Okoye N100m bail
