Alleged $1M and €34,537 Theft: P-Square’s Ex-Manager, Jude Okoye, Granted N50M Bail
An Ikeja Special Offences Court has granted N50 million bail to Jude Okoye, the former manager of the music group P-Square, who faces charges of stealing over one million U.S. dollars and €34,537.
Jude Okoye, the elder brother of popular twin musicians Peter Okoye (Mr. P) and Paul Okoye (Rudeboy), was arraigned on Tuesday alongside his company, Northside Music Ltd. He pleaded not guilty to the four-count charge filed against him by the Economic and Financial Crimes Commission (EFCC).
While ruling on the bail application, Justice Rahman Oshodi admitted the defendant to N50 million bail, with two sureties in like sum. The sureties must be gainfully employed and provide evidence of at least three years of tax payment to the Lagos State Government.
The judge further ordered that the defendant surrender both his Nigerian and St. Kitts and Nevis passports to the court registrar. He also directed the EFCC to inform the Immigration Service to withhold the passports pending the case’s resolution.
Justice Oshodi explained: “I have considered the affidavits and oral submissions made by the parties involved in today’s proceedings. The key issue here is whether the court should exercise its discretion to grant bail to the first defendant. Section 115 (2) of the ACJL grants this court the discretion to grant bail in cases not punishable by death. I am therefore satisfied that the bail issue should be resolved in favor of the defendant.”
Earlier, the defense counsel, Clement Onwuenwunor (SAN), had moved a bail application dated February 27, urging the court to admit the defendant to bail on liberal terms. He argued that Jude Okoye had been on administrative bail since the case began with the EFCC and had not violated the terms. Onwuenwunor also noted that the defendant owns 40 percent of the family company, while his brother, Peter Okoye, holds 30 percent.
For the sake of family unity, the counsel requested that the defendant be released to his younger brother, who is willing to take him on bail. He described the case as a family dispute involving directors of the company.
However, EFCC counsel Mohammed Bashir argued that the defendant’s dual citizenship could make him a flight risk. While acknowledging that Okoye had adhered to the terms of his administrative bail, Bashir pointed out that this case involves multiple charges, making it distinct from previous proceedings.
The next hearing is scheduled for May 16.
