A Lagos court has granted bail to Jude Okoye, the former manager of the defunct music group P-Square, and his company, Northside Music Limited, in an ongoing fraud case involving over $1 million and £34,000 in alleged stolen royalties.
Justice Rahman Oshodi of the Special Offences Court in Ikeja ruled on Thursday that Okoye be released on bail under strict conditions, setting the bail amount at N50 million with two sureties in like sum.
Allegations of Fraud
Jude Okoye and Northside Music Limited are facing four charges related to the alleged theft and conversion of $1,019,763.87 and £34,537.59 from digital music distribution and publishing royalties.
According to the Economic and Financial Crimes Commission (EFCC), the alleged fraud occurred between 2016 and 2023. The EFCC’s counsel, Mohammed Bashir, told the court that the defendants had misappropriated royalties belonging to artists.
The anti-graft agency said the offences violate Sections 278 and 285 of the Lagos State Criminal Laws of 2011.
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Court Imposes Strict Bail Conditions
When ruling on the bail application, Justice Oshodi stated that Jude Okoye must meet several conditions before he could be released from custody.
The judge ruled, “The defendant shall submit his two passports—Nigerian and St. Kitts and Nevis—to the Registrar of this court. The EFCC shall also notify the immigration authorities to withhold the passports pending the determination of this case.”
The court also directed that Okoye’s sureties must reside within its jurisdiction and provide three years of tax payment evidence.
Earlier, Jude Okoye’s lawyer, Clement Onwuenwunor (SAN), had pleaded with the court to grant him bail. He argued that the case was a civil dispute between directors and even suggested that Okoye be released into the custody of his younger brother, Paul Okoye (also known as Rudeboy).
However, the prosecution opposed the bail request, arguing that Okoye’s dual citizenship made him a flight risk.
“There are multiple charges and multiple counts against him, and the facts are overwhelming. This could induce him to abscond,” Bashir told the court.
Additional Legal Troubles
This is not the only fraud case against Jude Okoye. He is also facing a seven-count charge in a separate case before Justice Alexander Owoeye of the Federal High Court.
Earlier in the week, the Federal High Court granted him bail at N100 million, also requiring two sureties in the same amount.
Despite these legal battles, Okoye remains free—at least for now—as long as he meets the court’s bail conditions.
The trial is set to continue on May 16 and 23, 2025.