$1m, £34,537 fraud: Court grants Jude Okoye N50m bail

The Special Offences Court sitting in the Ikeja area of Lagos State, on Thursday, March 6, 2025, admitted the former manager of P-Square, Jude Okoye, charged with stealing $1 million and £34,537, to N50 million bail.

Jude, the elder brother of Peter Okoye and Paul Okoye, is standing trial alongside his company, Northside Music Limited, on a four-count charge bordering on theft.

The charge was preferred against him by the Economic and Financial Crimes Commission (EFCC), to which he pleaded ‘not guilty’.

Justice Rahman Oshodi, while delivering his ruling on the bail application moved by Jude’s lead counsel, Clement Onwuenwunor (SAN), said: “I have considered the affidavit evidence and oral application submitted by the parties.

“The singular issue for determination is whether or not the court should  exercise its discretion in favour of the first defendant by granting him bail.

“Section 115 (2) of the ACJL confers  the discretion of this court to grant bail in cases not punishable by death.

Court sends Jude Okoye to prison for $1m, £34,537 fraud

“I am therefore satisfied that the issue for determination of bail should be resolved in the defendant’s favour.”

The judge, therefore, admitted the defendant to bail in the sum of N50 million with two sureties in like sum.

Justice Oshodi said the sureties should be gainfully employed and should show evidence of three years’ tax payment to the Lagos State Government.

He ordered that the defendant should submit his dual citizenship documents to the chief registrar of the court.

Justice Oshodi also ordered the EFCC to notify the immigration office to withhold the defendant’s international passport pending the determination of the case.

The judge, thereafter, adjourned the case until May 16 for the commencement of trial.

The Star