A High-Profile Bail Decision
Jude Okoye, the former manager of the defunct music group P-Square, has been granted bail in the sum of N100 million by Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos. Okoye is standing trial alongside his company, Northside Music Limited, on seven counts of money laundering charges brought by the Economic and Financial Crimes Commission (EFCC). The case has drawn significant attention due to Okoye’s prominence in the Nigerian entertainment industry.
The Charges: Alleged N1.38 Billion Fraud
Jude Okoye and his company are accused of laundering N1.38 billion, a charge to which he pleaded “not guilty” during his arraignment on February 26, 2025. The EFCC’s Lagos Zonal Directorate is prosecuting the case, which centers on allegations of financial misconduct and money laundering.
Bail Application: Medical Grounds and Opposition
During Monday’s court proceedings, Okoye’s defense counsel, Inibehe Effiong, argued for bail on medical grounds, emphasizing his client’s need for proper healthcare. However, the prosecuting counsel, Fanen Anum, opposed the application, citing concerns that Okoye might flee or interfere with witnesses.
“He is a flight risk and may interfere with the prosecution’s witnesses,” Anum stated.
Court’s Decision: Conditions for Bail
After considering arguments from both sides, Justice Owoeye ruled that the charges against Okoye were bailable and granted him bail under the following conditions:
Bail Sum: N100 million.
Sureties: Two sureties in like sum, one of whom must own landed property within the court’s jurisdiction.
Travel Restrictions: Okoye must notify the EFCC before traveling outside the jurisdiction.
The judge emphasized the need for a fair trial while ensuring that the defendant complies with the court’s conditions.
What’s Next?
The case has been adjourned until April 14, 2025, for further proceedings. As the trial progresses, it will be closely watched by both the entertainment industry and the public, given Okoye’s high-profile status and the significant amount of money involved.
Why This Matters
This case highlights the EFCC’s ongoing efforts to combat financial crimes in Nigeria, even involving prominent figures. It also underscores the importance of due process and the presumption of innocence until proven guilty.