Justice Rahman Oshodi of the Special Offences Court in Ikeja has granted bail to Jude Okoye, the former manager of the defunct hip-hop group P-Square, and his company, Northside Music Limited, over allegations of theft amounting to $1,019,763.87 and £34,537.59 in music royalties.
Okoye and his company were arraigned by the Economic and Financial Crimes Commission (EFCC) on March 4, 2025, on four counts of alleged theft and conversion of digital music distribution and publishing funds.
According to the EFCC’s prosecution counsel, Mohammed Bashir, the alleged offences were committed between 2016 and 2023, violating sections 278 and 285 of the Lagos State Criminal Laws.
During Thursday’s ruling, Justice Oshodi granted bail to the first defendant in the sum of N50 million, with two sureties in like sum.
The judge mandated that the sureties must reside within the court’s jurisdiction and provide three years’ evidence of tax payment.
Additionally, Okoye was ordered to surrender his Nigerian and St. Kitts and Nevis passports to the court registrar, with a directive for immigration authorities to restrict his travel until the case is concluded.
The defense counsel, Clement Onwuenwunor (SAN), had earlier urged the court to grant Okoye bail, arguing that the matter was a civil dispute between business partners and a family disagreement.
He proposed that Okoye be released to his younger brother, Paul Okoye (alias Rudeboy), who had volunteered to stand as his surety.
The prosecution, however, opposed the bail application, citing Okoye’s dual citizenship as a potential flight risk.
While acknowledging his cooperation during the investigation, the EFCC insisted that the multiple charges against him could prompt an attempt to evade trial.
This case is not the only legal battle Jude Okoye is facing. He is also entangled in a separate seven-count charge before Justice Alexander Owoeye of the Federal High Court, where he was granted bail on Monday in the sum of N100 million with two sureties.
The trial before Justice Oshodi has been adjourned to May 16 and 23, 2025, as the legal proceedings against the former music executive continue to unfold.