The Federal High Court in Lagos has granted bail to Jude Okoye, the former manager and elder brother of Nigerian music duo Peter and Paul Okoye (P-Square), ahead of his trial for alleged ₦1.38 billion money laundering charges.
Justice Alexander Owoeye granted the bail on Monday after Okoye pleaded not guilty to the charges filed against him by the Economic and Financial Crimes Commission (EFCC).
Jude Okoye, alongside his company Northside Music Limited, is facing a seven-count charge bordering on money laundering involving ₦1.38 billion, $1 million, and £34,537.59. The EFCC alleged that the offences contravene Section 18(2)(a) of the Money Laundering (Prohibition) Act and are punishable under Section 18(3) of the same Act.
Justice Owoeye set the bail conditions requiring Jude Okoye to provide two sureties with landed properties in Lagos worth at least ₦100 million each. The court will verify the documents of the properties before approving the sureties. Okoye was also ordered to surrender his international passport and is prohibited from leaving the country without court approval. He will remain in the Ikoyi correctional facility until all bail conditions are met.
Okoye’s trial is set to commence on April 14, 2025, with the EFCC expected to present evidence against him. The allegations have sparked widespread reactions, especially within Nigeria’s entertainment industry. As the trial unfolds, all eyes will be on the court to see how the case plays out.
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