A Special Offenses Court in Ikeja has granted Jude Okoye, former manager of P-Square, bail set at ₦50 million following his arraignment by the Economic and Financial Crimes Commission (EFCC) on money laundering charges involving $1 million, ₦1.38 billion, and €34,537.59.
Previously, Justice Alexander Owoeye of a Lagos court had ruled that Okoye must provide two sureties worth ₦100 million each and was barred from traveling outside Nigeria. However, shortly after being granted bail, he was re-arrested by authorities.
In the latest development, Justice Rahman Oshodi ruled in favor of Okoye’s bail request, citing Section 115 (2) of the Administration of Criminal Justice Law (ACJL), which allows the court discretion to grant bail in cases not punishable by death. “I am therefore satisfied that the issue of bail should be resolved in the defendant’s favor,” the judge stated.
Okoye was granted bail of ₦50 million, with two sureties of equal amount.
Alleged money laundering: Court grants Jude Okoye bail pic.twitter.com/z8ttl2bvtw
— YabaLeftOnline (@yabaleftonline) March 6, 2025