N50M Bail for Jude Okoye in Multi-Million Dollar Theft Case

A Lagos Special Offences Court has granted N50 million bail to Jude Okoye, the former manager of the iconic music duo P-Square, amid allegations of theft involving $1,019,763.87 and £34,537.59.

Justice Rahman Oshodi, presiding over the case, ruled that Okoye must provide two sureties of equal sum, who must reside within jurisdiction and present proof of three years’ tax payments.

Additionally, the court ordered him to surrender both his Nigerian and St. Kitts & Nevis passports, while directing the Economic and Financial Crimes Commission (EFCC) to notify immigration authorities to prevent him from leaving the country.

During the hearing, Okoye’s lawyer, Clement Onwuenwnor, SAN, argued that the case was a civil dispute between business partners and requested that his client be released to his younger brother on bail.

However, EFCC prosecutor Mohammed Bashir opposed the request, citing Okoye’s dual citizenship as a flight risk. He emphasized the gravity of the charges, warning that the accused might abscond.

Despite the prosecution’s objections, Justice Oshodi ruled in favor of Okoye, stating that all affidavits had been duly considered.

The case has been adjourned to May 16 and 23, 2025, for further hearings.