The Federal High Court in Lagos granted Jude Okoye, the former manager of the popular music group P-square, a ₦100 million bail on Monday.
This decision was made by Justice Alexander Owoeye, who also stipulated that Okoye must provide two sureties, each with landed property in Lagos valued at ₦100 million. Additionally, Okoye is prohibited from traveling outside Nigeria without permission.
Jude Okoye, the elder brother of Peter and Paul Okoye, was arraigned by the Economic and Financial Crimes Commission (EFCC) last week on allegations of money laundering.
The charges involve a staggering ₦1.38 billion, $1 million, and £34,537.59.
Okoye’s company, Northside Music Limited, was also implicated in the case, with seven counts preferred against them.
According to the EFCC, Okoye and his company allegedly acquired a landed property at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, in 2022.
The property, valued at ₦850 million, was purportedly purchased with funds that Okoye knew or should have reasonably known were proceeds of unlawful activities.
