An Ikeja Special Offence on Thursday granted Jude Okoye, the former manager of P-Square, bail of N50 million.
PREMIUM TIMES on Tuesday reported that the case, filed as ID/25362C/2025—Federal Government vs Jude Chidozie Okoye, involves allegations of money laundering in the amount of N1.38 billion, $1 million, and £34,537.59, brought against him by the Economic and Financial Crimes Commission (EFCC).
Jude, the elder brother of the defunct twin singing sensation PSquare, is standing trial alongside his company, Northside Music Ltd., on a four-count theft charge.
The Economic and Financial Crimes Commission, EFCC, filed the charges against him, but he pleaded not guilty.
He delivered his ruling on the bail application moved by Jude’s lead counsel, Clement Onwuenwunor, SAN.
Justice Rahman Oshodi said he had considered the affidavit evidence and oral submissions presented by the parties.
“The singular issue for determination is whether or not the court should exercise its discretion in favour of the first defendant by granting him bail.
Section 115 (2) of the ACJL confers discretion upon this court to grant bail in cases not punishable by death. I am therefore satisfied that the issue of bail should be resolved in the defendant’s favour,” the judge said.
He, therefore, granted the defendant bail in the sum of N50 million, with two sureties in like sum.
Justice Oshodi stated that the sureties must be gainfully employed and provide evidence of three years’ tax payments to the Lagos State Government.
READ ALSO: Alleged N1.38 Billion Fraud: Jude Okoye remanded as court fixes new date for bail hearing
He ordered the defendant to submit his dual citizenship documents to the court chief registrar.
Justice Oshodi also directed the EFCC to notify the Immigration office to withhold the defendant’s international passport pending the determination of the case.
The court adjourned the case until 16th May for the commencement of trial.
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