The Federal High Court in Lagos on Monday granted N100m bail to Jude Okoye, the former manager of twin brothers Peter and Paul Okoye, who were members of the defunct hip-hop group P-Square.
Justice Alexander Owoeye granted the bail with two sureties in like sum.
The court also ruled that Jude Okoye must not travel out of the country.
The judge held that one of the sureties must be an owner of a landed property, amongst others.
Jude Okoye, who is the elder brother to Peter and Paul Okoye, was arraigned last Wednesday before the court by the Economic and Financial Crimes Commission on an alleged crime of money laundering involving N1.38 billion, $1 million, and £34,537.59.
He was arraigned alongside his company, Northside Music Limited, on seven counts preferred against him.
The Commission told the court that the defendant, alongside his Northside Music Limited sometime in 2022, in Lagos, directly acquired a landed property known as No. 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos, worth N850,000,000. (Eight hundred and fifty million naira) The money he knew or reasonably ought to have known forms part of the proceeds of unlawful activities.
