Jude Okoye, the elder brother and former manager of the defunct music group P-Square, has been granted bail set at ₦100 million as he awaits trial over fraud allegations.
Okoye has been charged by the Economic and Financial Crimes Commission (EFCC) with laundering ₦1.38 billion, $1 million, and £34,537.59.
He entered a plea of “not guilty” to these charges and was initially placed in the Ikoyi correctional facility by Judge Alexander Owoeye of the federal high court in Ikoyi, Lagos.
His attorney, Inibehe Effiong, had sought to have him held in the custody of the EFCC until the hearing, a request that was opposed by the prosecution, represented by counsel Larry Peters Aso.
During the proceedings on Friday, the defense submitted a bail application, which the prosecution contested with an affidavit asserting that Okoye is a potential flight risk and might tamper with witnesses.
The judge agreed to consider the bail application and subsequently granted it on Monday.
As stipulated by Owoeye, the conditions for bail require Okoye to present two sureties, each possessing landed properties in Lagos valued at ₦100 million.
The court must verify the documentation for these properties, and Okoye is restricted from leaving the country without prior approval.
Owoeye stated that Okoye would remain incarcerated until the bail conditions were fulfilled.
The trial is scheduled to begin on April 14, 2025.
Background Of Jude Okoye’s Drama With His Twin Brothers
The dispute originated in 2017, stemming from a conflict between Paul Okoye and his twin brother, Peter Okoye. This discord resulted in the dissolution of their musical group, Psquare, as both brothers opted to pursue individual careers.
The separation reportedly occurred due to a disagreement regarding the involvement of Jude, their elder brother and former manager.
Although the twins reconciled in November 2021, their reunion proved to be fleeting.
In August 2024, Paul disclosed another conflict, alleging that Peter had orchestrated his arrest by the anti-corruption agency.
Peter refuted these claims, instead accusing Jude of misappropriating millions of dollars from their shared account into a clandestine company.
He stated that he felt compelled to engage the EFCC after Paul challenged him to “do your worst” during their last discussion on the issue.
Jude responded to these accusations by claiming that he had done everything in his power to mend the division between his brothers, including “sacrificing himself.”
