Jude Okoye, the former manager and elder brother of Nigerian music stars Peter and Paul Okoye, has been granted bail by the Federal High Court in Lagos ahead of his upcoming trial for alleged financial crimes.
The court ruling came after Okoye’s legal representatives and the prosecution presented their arguments regarding his bail application. Justice Alexander Owoeye had previously scheduled March 3, 2025, as the date for the ruling on the bail request after hearing submissions from Okoye’s lawyer, Inibehe Effiong, and the Economic and Financial Crimes Commission’s (EFCC) counsel, Fanny Anum.
The decision has now paved the way for Okoye to await trial outside of detention, provided he meets the stringent bail conditions imposed by the court.
Okoye was arraigned before the court on February 26, 2025, by the EFCC, facing allegations of money laundering involving significant sums of money, including ₦1.38 billion, $1 million, and £34,537.59.
The charges, which were brought against him alongside his company, Northside Music Limited, span seven counts and are centered around financial misconduct and illicit financial transactions. The EFCC alleged that Okoye knowingly engaged in these financial dealings despite being aware of their questionable origins.
If found guilty, the charges carry severe legal consequences, as they are punishable under Section 18(3) of the Money Laundering Prevention and Prohibition Act.
During the court proceedings, Okoye pleaded not guilty to all the charges leveled against him. Following his plea, the court ordered his remand at the Ikoyi Correctional Centre pending the resolution of his bail application.
His lawyer, Inibehe Effiong, had initially requested that he remain in EFCC custody while awaiting the ruling on his bail request, but the prosecution opposed this motion. The judge subsequently ruled that Okoye be kept at the correctional facility until the bail determination.
This decision drew attention to the high-profile nature of the case, as well as the legal battle that awaits the music executive in the coming months.
The bail conditions set by Justice Owoeye are notably strict, reflecting the gravity of the allegations against Okoye. The court ruled that he must provide two sureties, each possessing landed properties in Lagos valued at no less than ₦100 million.
Additionally, these properties must be verified by the court to ensure their authenticity before Okoye can be released. The stringent conditions indicate the court’s intent to prevent any possibility of the defendant evading trial while ensuring that he remains accountable throughout the legal process.
Furthermore, as part of the bail conditions, Okoye has been barred from traveling outside Nigeria without prior approval from the court. This restriction aims to prevent any attempts to flee the country and evade prosecution.
Until he fully meets all the bail requirements, Okoye will continue to be held in detention. With the trial set to commence soon, the case remains a major legal battle, attracting significant public interest due to Okoye’s high-profile status in the entertainment industry.
The coming weeks will determine how the trial unfolds and whether he can successfully defend himself against the allegations.
