A Lagos Special Offences Court has granted bail to Jude Okoye, former manager of the defunct music duo P-Square, in an ongoing trial over alleged misappropriation of $1,019,763.87 and £34,537.59.
According to the charges dated January 27, 2025, Okoye and his company, Northside Music Limited, allegedly converted: $767,544.15 from Lex Records Limited, meant for digital distribution and publishing royalties.
The charges also alleged that Okoye diverted £34,537.59 from Lex Records Limited for the same purpose and $133,566.49 from Kobalt Music Services Limited, also meant for digital royalties.
• $118,652.23 from Mech Limited for digital distribution and publishing royalties.
Presiding over the case, Justice Rahman Oshodi granted Okoye bail at N50 million, with two sureties in like sum.
The sureties must reside within the court’s jurisdiction and provide proof of tax payments for the past three years.
As part of his bail conditions, Okoye was ordered to surrender his Nigerian and St. Kitts and Nevis passports, while the Economic and Financial Crimes Commission (EFCC) was directed to alert immigration authorities to prevent him from leaving the country.
During the hearing, Okoye’s lawyer, Clement Onwuenwnor (SAN), argued that the case was a civil dispute between business partners and requested that his client be released to his younger brother on bail.
However, EFCC prosecutor Mohammed Bashir opposed the request, citing Okoye’s dual citizenship as a flight risk.
Despite the prosecution’s objections, the judge ruled in favour of the defendant after reviewing all affidavits.
The case has been adjourned to May 16 and 23, 2025, for further proceedings.
