Jude Okoye, the elder brother and former manager of the defunct music group P-Square, has been granted a N100m bail ahead of his trial for alleged fraud.

 

Okoye was arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of laundering N1.38 billion, $1 million, and £34,537.59.

 

He pleaded “not guilty” to the charges and was initially remanded in the Ikoyi correctional facility by Alexander Owoeye, the judge of a federal high court in Ikoyi, Lagos.

 

Inibehe Effiong, his counsel, had requested that he be remanded in the EFCC’s custody pending the hearing, but the prosecution counsel Larry Peters Aso objected to this request.

During Friday’s sitting, the defendant’s counsel filed a bail application, but the prosecution countered with an affidavit, arguing that Okoye poses a flight risk and may interfere with witnesses.

 

The judge agreed to hear the bail application and granted the request on Monday.

 

The bail conditions, as set by Owoeye, require Okoye to provide two sureties, each with landed properties in Lagos worth N100 million.

 

 

The court must verify the properties’ documents, and Okoye is prohibited from traveling outside the country without approval.

 

Owoeye held that Okoye will remain in prison until the bail conditions are met. His trial is set to commence on April 14, 2025.

 

ORIGIN OF CONTROVERSY

 

The controversy began in 2017 with the feud between Paul Okoye and his twin brother Peter Okoye. The rift led the brothers to split their group Psquare and pursue solo careers.

 

The twins were said to have parted ways after a disagreement on the role of Jude — their older brother who was their manager then.

 

Though they reunited in November 2021, their reconciliation was short-lived.

 

In August 2024, Paul revealed another fallout, accusing Peter of orchestrating his arrest by the anti-graft commission.

 

Peter, however, denied the allegations and accused Jude of diverting millions of dollars from their joint account into a secret company.

 

He said he was left with no choice but to involve the EFCC after Paul asked him to “do your worst” during their last conversation on the matter.

 

Responding to the accusations, Jude said he had done everything possible, even “sacrificing himself,” to mend the rift between his brothers.