A special Offenses Court sitting in Ikeja Lagos has granted Jude Okoye bail along with two sureties in the like sum of N50 million each, ENigeria News reports.
Jude Okoye, a former manager of the defunct music group, P-square and elder brother of Peter and Paul Okoye was arraigned by the Economic and Financial Crimes Commission on fresh four count charges before Justice Ramon Oshodi of the Special Offences Court.
The four count charges bordered on alleged stealing and illegal diversion of funds in the tune of $767,544.15 among others, all of which Jude Okoye, and his company Northside Music Limited pleaded not guilty.
ENigeria News reports that the alleged stolen sum among others were reportedly paid by Lex Records limited as payment for music digital distribution/publishing royalties of P-Square catalogue, but was allegedly diverted by Jude Okoye “with intent to deprive his brother, Peter Okoye, his special interest in the asset.”
Okoye and his company Northside Music Limited were also arraigned by the EFCC over alleged theft of another $1 million, £34,537.59, laundering of N1.38bn, $1m, and £34,537.59, all of which are existing charges before the Federal High Court in Ikoyi, Lagos.
The EFCC claims that the alleged offences were committed sometime between 2016 and 2023.
However, in a dramatic twist, EFCC’s prosecutor, Mohammed Bashiru told the court that the Commission would be fielding 29 witnesses to testify against Mr. Jude and his Northside Music Limited in the ongoing case.
The Court had on Tuesday adjourned till Thursday for the hearing and ruling on the bail application filed by Jude’s new lawyer, Clement Onwuenwunor (SAN).
Upon hearing the affidavits and arguments of both the prosecution and defense counsels, the court granted the defendant bail and two sureties in like sum of N50 million each.
Also the defendant who holds dual citizenship was told to drop his passports with the court, while the EFCC was instructed by the court to ensure that the Nigerian Immigrations Service is duly briefed about the defendant’s ongoing case in court.
