Jude Okoye Gets Bail in EFCC Fraud Case – What Happens Next?
A Federal High Court in Ikoyi, Lagos, has granted Jude Okoye, former manager of the defunct music group P-Square bail set at ₦100 million as he awaits trial over alleged fraud and money laundering.
Okoye, who was arraigned by the Economic and Financial Crimes Commission (EFCC), faces charges of laundering ₦1.38 billion, $1 million, and £34,537.59. He pleaded not guilty and was initially remanded at the Ikoyi Correctional Facility by Justice Alexander Owoeye.
Bail Conditions and Restrictions
During the court session, Okoye’s lawyer, Inibehe Effiong, requested that his client remain in EFCC custody, but the prosecution, led by Larry Peters Aso, opposed the motion, arguing that Okoye could be a flight risk and might interfere with witnesses.
On Monday, Justice Owoeye granted bail with strict conditions, including:
• Two sureties with landed properties in Lagos worth ₦100 million each
• Court verification of the property documents
• A travel restriction, barring him from leaving Nigeria without approval
Until these conditions are met, Okoye will remain in custody. His trial is scheduled to commence on April 14, 2025.