Jude Okoye, former manager and elder brother of P-Square, has been granted bail in the sum of N100 million following his arraignment for alleged money laundering.
The Federal High Court in Ikoyi, Lagos, made the ruling on Monday after Okoye pleaded not guilty to charges brought against him by the Economic and Financial Crimes Commission (EFCC). The anti-graft agency accused him of laundering N1.38 billion, $1 million, and £34,537.59.
Justice Alexander Owoeye had initially ordered Okoye’s remand at the Ikoyi Correctional Facility after his arraignment. His defense counsel, Inibehe Effiong, requested that he remain in EFCC custody instead, but the prosecution, led by Larry Peters Aso, argued that he posed a flight risk.
After reviewing arguments from both sides, the court approved bail under strict conditions. Okoye must provide two sureties with landed properties in Lagos worth N100 million each. The court will verify the property documents, and he is barred from leaving Nigeria without judicial approval.
Until he meets these bail conditions, Okoye will remain in custody. His trial is scheduled to begin on April 14, 2025.
