An Ikeja Special Offences Court on Thursday granted bail of N50 million to Jude Okoye, the former manager of P-Square, who is facing charges of stealing $1 million and £34,537. Jude, the elder brother of music duo Peter and Paul Okoye, is standing trial alongside his company, Northside Music Ltd., on a four-count charge of theft filed by the Economic and Financial Crimes Commission (EFCC).
Jude pleaded not guilty to the charges during his arraignment.
Delivering his ruling on the bail application, Justice Rahman Oshodi stated that he had considered the affidavit evidence and oral submissions presented by both parties.
“The singular issue for determination is whether or not the court should exercise its discretion in favour of the first defendant by granting him bail. Section 115 (2) of the ACJL confers discretion upon this court 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 favour,” the judge said.
Justice Oshodi granted Jude bail in the sum of N50 million, with two sureties in like sum. The sureties must be gainfully employed and provide evidence of three years’ tax payments to the Lagos State Government.
The court also ordered Jude to submit his dual citizenship documents to the chief registrar and directed the EFCC to notify the Immigration office to withhold his international passport pending the determination of the case.
The case has been adjourned until May 16 for the commencement of trial.
DAILY MENTOR reports that the bail conditions aim to ensure Jude’s presence in court while the trial proceeds. The case has drawn significant attention due to Jude’s prominence in the entertainment industry and his relationship with the famous P-Square duo.