The Federal High Court in Lagos has granted bail to Jude Okoye, the former manager of the now-defunct music duo P-Square, in the sum of N100 million.
Justice Alexander Owoeye, who presided over the case, set the bail conditions, including two sureties in like sum.
The judge further ruled that one of the sureties must own a landed property and that Okoye is not permitted to leave the country.
Okoye, the elder brother of Peter and Paul Okoye, was arraigned last Wednesday by the Economic and Financial Crimes Commission on allegations of money laundering involving N1.38 billion, $1 million, and £34,537.59.
He was charged alongside his company, Northside Music Limited, in a seven-count indictment brought by the EFCC.
According to the anti-graft agency, Okoye and his company allegedly acquired a property at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, in 2022.
The property, valued at N850 million, was reportedly purchased with funds suspected to be proceeds of unlawful activities.
