Court rules on Jude Okoye’s bail amid high-profile money laundering case
Jude Okoye, the older brother of Peter and Paul Okoye of the defunct P-Square music group, has been granted bail by the Federal High Court in Lagos following his arraignment on charges of money laundering.
Okoye, the CEO of Northside Music Limited, was brought before the court by the Economic and Financial Crimes Commission (EFCC) over alleged money laundering involving N1.38 billion, $1 million, and £34,537.59. Among the charges, the EFCC accused Okoye and his music label of acquiring a landed property worth N850 million at No. 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, in 2022, knowing or having reasonable grounds to suspect that the funds used were proceeds of unlawful activities.
Justice Alexander Owoeye granted Jude Okoye bail in the sum of N100 million with two sureties in like sum. The court stipulated that one of the sureties must own a landed property, and Okoye is prohibited from traveling out of the country pending further proceedings.
A video circulating online captured Okoye leaving the court alongside his brother Paul Okoye after securing bail. The case is expected to continue as legal proceedings unfold.
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