Court grants Jude Okoye bail in sum of N100m

By Tosin Brown

The Federal High Court in Lagos has granted bail in the sum of N100 million to Jude Okoye over fraud allegations.

Justice Alexander Owoeye granted the bail with two sureties in like sum.

The court also ruled that Okoye, the eldest brother and former manager of the P-Square duo, must not travel out of the country.

The judge held that one of the sureties must be the owner of a landed property, among other conditions.

Okoye was arraigned last Wednesday before the court by the Economic and Financial Crimes Commission (EFCC) on charges of money laundering involving ₦1.38 billion, $1 million, and £34,537.59.

He was arraigned alongside his company, Northside Music Limited, on seven counts preferred against him by the EFCC.

The commission informed the court that the defendant, along with his company, directly acquired a landed property at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, in 2022.

The property, valued at ₦850 million, was allegedly purchased with funds that the defendant knew or ought to have reasonably known were proceeds of unlawful activities.