court sets March 3 for Jude Okoye’s bail hearing

A Federal High Court in Ikoyi, Lagos, on Friday entertained the bail application of Jude Okoye, who is facing charges of money laundering.

Okoye, the elder brother of Peter Okoye snd Paul Okoye and former manager of the defunct music group Psquare, was arraigned on Wednesday by the Economic and Financial Crimes Commission (EFCC) over allegations of laundering ₦1.38 billion, $1 million, and £34,537.59.

The EFCC arraigned Okoye and his company, Northside Music Ltd, before Justice Alexander Owoeye on a seven-count charge. According to the charges, Okoye allegedly acquired a property worth ₦850 million in Parkview Estate, Ikoyi, Lagos, in 2022, knowing or reasonably suspecting that the funds used were proceeds of an unlawful act.

He is also accused of using a bureau de change to convert over $1 million into naira and distributing it across various accounts to conceal its origin.

His counsel, Inibehe Effiong, informed the court of a pending bail application and requested that the defendant remain in EFCC custody until the hearing.

However, the prosecution, represented by Larry Peters Aso, opposed the request, citing congestion in EFCC detention facilities and arguing that Okoye should be remanded in Ikoyi Correctional Centre.During Friday’s proceedings, the prosecution filed an affidavit opposing bail, arguing that Okoye was a flight risk and could interfere with witnesses.

In response, Effiong stated that Okoye had fully cooperated with investigators and was not a flight risk. He also revealed that singer Paul ‘Rudeboy’ Okoye was present in court as a surety for his brother.

Justice Owoeye directed Rudeboy to submit his documents through his lawyer and scheduled the bail hearing for March 3. The trial is set to begin on April 14.

The case stems from a long-standing rift between the Okoye brothers. P-square, once one of Africa’s most successful music groups, disbanded in 2017 following a fallout between Paul and Peter Okoye.

The dispute reportedly centered on the role of their elder brother, Jude, who was their manager at the time. Although the twins reconciled in November 2021, tensions resurfaced in August 2024 when Paul accused Peter of orchestrating the arrest of Jude by the EFCC.