N1.38bn fraud case: Court adjourns Jude Okoye, ex-P-Square manager trial to April 14, grants bail

Justice Alexander Owoeye of the Federal High Court, Ikoyi, Lagos, has adjourned the trial of Jude Okoye Chigozie, older brother and former manager of Paul and Peter Okoye (of P-Square fame), to April 14, 2025.

Okoye is facing trial alongside his company, Northside Music Limited, on a seven-count charge of money laundering brought by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).

One of the charges states: “That you, Jude Okoye Chigozie and Northside Music Limited sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Okoye pleaded “not guilty” to the charges during his arraignment on February 26, 2025.

At Monday’s hearing, defense counsel Inibehe Effiong requested bail for his client on medical grounds, urging the court to grant the application.

However, prosecuting counsel Fanen Anum opposed the bail, arguing that Okoye posed a flight risk and could interfere with prosecution witnesses. He instead requested an accelerated hearing.

After considering both arguments, Justice Owoeye ruled that the charges were bailable and granted Okoye bail in the sum of ₦100 million, with two sureties in like sum.

One of the sureties must own landed property within the court’s jurisdiction. The court also mandated that Okoye must notify the EFCC before traveling outside the jurisdiction.