An Ikeja Special Offences Court on
Thursday admitted the former manager of P-Square, Jude Okoye, charged with
stealing $1 million and £34,537, to N50 million bail.
Jude, the elder brother of Peter Okoye and Paul Okoye,
is standing trial alongside his company, Northside Music Ltd., on a four-count
charge bordering on theft.
The charge was preferred against him by the Economic
and Financial Crimes Commission (EFCC), to which he pleaded ‘not guilty’.
Justice Rahman Oshodi, while delivering his ruling on
the bail application moved by Jude’s lead counsel, Mr Clement Onwuenwunor
(SAN), said: “I have considered the affidavit evidence and oral application
submitted by the parties.
“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.
“Section 115 (2) of the ACJL confers the discretion of
this court to grant bail in cases not punishable by death.
“I am therefore satisfied that the issue for
determination of bail should be resolved in the defendant’s favour.”
He, therefore, admitted the defendant to bail in the
sum of N50 million with two sureties in like sum.
Oshodi said the sureties should be gainfully employed
and should show evidence of three years’ tax payment to the Lagos State
Government.
He ordered that the defendant should submit his dual
citizenship documents to the chief registrar of the court.
Oshodi also ordered the EFCC to notify the immigration
office to withhold the defendant’s international passport pending the
determination of the case.
Earlier, the defence counsel, while moving the bail
application dated Feb.27, had prayed the court to admit the defendant to bail
on a liberal basis.
Onwuenwunor argued that the defendant had been on
administrative bail since the inception of the case with the EFCC and had not
jumped bail.
According to him, the defendant owns 40 per cent of
the family company, while the nominal complainant owns only 30 per cent.
He prayed that, for the purpose of family unity, the
defendant should be released on bail on the most liberal terms.
EFCC counsel, Mr Mohammed Bashir, in his 13-paragraph
counter affidavit dated March 6, argued that the defendant’s dual citizenship
status made him a flight risk.
Bashir, however, informed the court that the defendant
had been diligent in reporting himself while on administrative bail.
“To be honest, the defendant was diligent in reporting
to the commission, but this is a different case.
“He is standing trial on multiple counts before your
lordship, and he has dual citizenship, which makes him a flight risk.
“However, we leave everything to the discretion of the
court,” he said.
In the charge marked Ref/99260/2025, EFCC had alleged
that Jude dishonestly converted the sum of 767,544 dollars to his own use.
It alleged that the sum was paid to Lex Records Ltd.,
for music digital distribution/publishing royalties.
However, the EFCC alleged that the payment was made
with the intent to permanently deprive the complainant, Peter Okoye, of his
special interest in the business.
The anti-graft agency also alleged that, sometime
between 2016 and 2023, the defendant dishonestly converted the sum of £34,537
paid by Lex Records Ltd., for music digital distribution/publishing royalties
to his personal use.
The commission alleged that the ex-manager also
dishonestly converted the sum of $133,566 paid by Kobalt Music for digital
distribution/publishing royalties, with the intent to permanently deprive the
complainant of his special interest in the property.
The anti-graft agency also alleged that the defendant
dishonestly converted the sum of $118,652, paid by Mtech Ltd., for music
digital distribution and publishing royalties, with the intent to permanently
deprive the complainant of his special interest
According to EFCC, the alleged offences contravene
Sections 278 and 285 of the Criminal Laws of Lagos State, 2011
The court adjourned the case until May 16 for the
commencement of trial
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