Jude Okoye, former P-Square manager, granted N50 million bail in a theft case involving $1 million and £34,537. Trial to commence in May

An Ikeja Special Offences Court has granted a N50 million bail to Jude Okoye, the former manager of the famous music duo, P-Square. Okoye, who faces charges of stealing $1 million and £34,537, is standing trial alongside his company, Northside Music Ltd., on a four-count charge of theft.

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The charges were filed against Okoye by the Economic and Financial Crimes Commission (EFCC). However, Okoye pleaded not guilty to the allegations.

In a ruling delivered on Thursday, Justice Rahman Oshodi considered the affidavit evidence and oral submissions made by both the defence and prosecution before granting bail.

Justice Oshodi pointed out that the issue of whether to grant bail lies within the discretion of the court, as per Section 115 (2) of the Administration of Criminal Justice Law (ACJL).

The judge expressed satisfaction that the conditions for bail had been met, particularly since the crime is not punishable by death.

“The singular issue for determination is whether or not the court should exercise its discretion in favour of the first defendant by granting him bail,” Justice Oshodi explained in his ruling. He then granted Jude Okoye bail in the sum of N50 million, with two sureties in like sum.

The judge further specified that the sureties must be gainfully employed and present evidence of tax payments to the Lagos State Government for the past three years. In addition, Okoye was ordered to submit his dual citizenship documents to the chief registrar of the court.