The federal high court in Ikoyi, Lagos State, has granted bail in the amount of N100m to Jude Okoye, the older sibling and former manager of the defun
The federal high court in Ikoyi, Lagos State, has granted bail in the amount of N100m to Jude Okoye, the older sibling and former manager of the defunct music group, P-square.
This was revealed during a court ruling by Justice Alexander Owoeye, on Monday, March 3.
Jude was charged by the Economic and Financial Crimes Commission (EFCC) for laundering N1.38 billion, $1 million, and £34,537.59.
He pleaded not guilty to the charges and was initially held at the Ikoyi correctional facility.
However, Jude’s lawyer, Inibehe Effiong, had requested that he be kept in the EFCC’s custody until the hearing, but the prosecution’s lawyer, Larry Peters Aso, opposed the request.
During the court session which earlier took place on Friday, February 28, the defendant’s lawyer submitted a bail application, but the prosecution opposed it with an affidavit, claiming that Okoye might flee and could tamper with witnesses.
However, the judge decided to consider the bail request and granted it on Monday, March 3
He stated that the bail conditions, set by Owoeye, require Okoye to present two sureties, each owning property in Lagos valued at N100 million.
Justice Owoeye noted that the court will need to verify the property documents, and Okoye is also restricted from leaving the country without prior approval.
The judge also stated that Okoye will remain in custody until the bail requirements are fulfilled.
Justice Owoeye finally adjourned the case till Monday, April 14.
