By Ghazali Ibrahim
Jude Okoye, the former manager of the popular music group P-Square, has been granted bail in the sum of N100 million ahead of his trial for alleged fraud. Okoye was arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of laundering a whopping N1.38 billion, $1 million, and £34,537.59.
The Federal High Court in Ikoyi, Lagos, initially remanded Okoye in the Ikoyi Correctional Facility, but his counsel, Inibehe Effiong, requested that he be kept in EFCC custody instead. However, the prosecution counsel, Larry Peters Aso, opposed the request.
After a bail application was filed, the prosecution countered with an affidavit, arguing that Okoye posed a flight risk and could interfere with witnesses. Nevertheless, the judge ruled in favor of granting bail, setting conditions that require Okoye to provide two sureties, each with landed property in Lagos worth N100 million.
The court must verify the property documents, and Okoye is prohibited from traveling outside Nigeria without approval. His trial is set to begin on April 14, 2025.
