On Monday, the Federal High Court in Lagos granted Jude Okoye, the former manager of hip-hop band P-square, N100 million bail.
Justice Alexander Owoeye granted bail with two surgeries in the same amount.
The court also decided that Jude Okoye could not leave the country.
The judge ruled that, among other things, one of the sureties had to hold a landed property.
The Economic and Financial Crimes Commission charged Jude Okoye, the elder brother of P-square’s Peter and Paul, with money laundering involving N1.38 billion, $1 million, and £34,537.59 in court on Wednesday.
He was charged with his firm, Northside Music Limited, with seven offenses recommended by the EFCC.
The commission informed the court that the defendant and his firm, Northside Music Limited, purchased a landed property at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, in 2022. The property valued at ₦850 million was reportedly acquired with cash the defendant knew or should have known were profits of illegal activity.
