Court to Decide Monday on Bail for Jude Okoye, Ex-P-Square Manager, Over Alleged N1.38 Billion Money Laundering Case
LAGOS – The Federal High Court in Lagos will decide on Monday, March 3, 2025, whether to grant bail to Jude Okoye, the former manager of the music duo P-Square, who is facing money laundering charges.
Justice Alexander Owoeye set the date after hearing arguments from Okoye’s lawyer, Inibehe Effiong, and EFCC counsel Fanny Anum on Friday.
Okoye, elder brother to P-Square’s Peter and Paul Okoye, was arraigned by the Economic and Financial Crimes Commission (EFCC) over alleged money laundering involving N1.38 billion, $1 million, and £34,537.59.
The EFCC accused Okoye and his company, Northside Music Limited, of acquiring an N850 million property in Ikoyi, Lagos, using illicit funds. The prosecution also alleged that in 2022, Okoye converted over $1 million through a Bureau de Change to conceal the source of the funds.
Okoye pleaded not guilty, and his lawyer sought bail on medical grounds, arguing that the case was a family dispute. However, the EFCC opposed bail, citing flight risk concerns.
Justice Owoeye ordered Okoye’s remand at Ikoyi Correctional Centre and scheduled the trial for April 14, 2025. The court will rule on his bail application on Monday.
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