Justice Rahman Oshodi of Lagos Special Offences Court, Ikeja has granted bail to Jude Okoye the former manager of the hip-hop artists of the defunct music group P-square, in an alleged theft of $1 million US dollars 34, 537 pounds.

The judge admitted him to bail of N50 million with two sureties in like sum and ordered that the defendant deposit his two international passports.

Justice Oshodi granted him bail after listening to the arguments and submissions of counsel representing the parties on bail applications.

Okoye, the elder brother of Peter Okoye (Alias Mr P) and Paul Okoye (a.k.a Rude Boy) is standing trial alongside his company, Northside Music Limited by the Economic and Financial Crimes Commission (EFCC).

He was arraigned on a four-count charge bordering on stealing but the defendant denied committing the offence, and pleaded not guilty to all the count charges.

The anti-graft commission in the charge marked Ref/99260/2025, EFCC alleged the Okoye of dishonestly converting the sum of $767,544.15, to his own use, the sum which was paid Lex Records Limited as payment for music digital distribution/publishing royalties with intent to permanently deprive the complainant, Peter Okoye his special interest in the property.

The anti-graft commission also alleged that sometime between 2016 and 2023, the defendant dishonestly converted the sum of £34,537.59, paid by Lex Records Limited as payment for music digital distribution/ publishing royalties with intent to permanently deprive the complainant of his special interest in the property.

Okoye was also alleged of dishonestly converted the sum of $133,566.49, which sum paid by Kobalt Music Digital distribution/publishing royalties with the intent to permanently deprive Peter Okoye of his special interest in the property.

The anti-graft agency said the defendant dishonestly converted the sum of $118,652.23, paid by Mtech limited as payment for music digital distribution publishing royalties with intent to permanently deprive Peter Okoye of his special interest.

The defendant’s offenses contravene the provision of Sections 278 and 285 of the Criminal Laws of Lagos 2011.

However, the EFCC counsel, Mr. Mohammed Bashir, earlier in his submission, told the court that the prosecution filed a counter affidavit to the bail application dated March 3, 2025. He said the defendant has a dual identity, and the ill health he claimed was not substantiated by any document.

The defendant’s counsel, Mr Clement Onwuenwunor (SAN), informed the court that he had filed a bail application dated January 27 and prayed the court to grant bail to the defendant.

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He urged the court to grant his client bail in liberal terms. He said his offence is bailable and that he did not jump bail when he was admitted to jail by the EFCC.

While delivering the ruling, Justice Oshodi ordered the defendant to deposit his international passport.

“I have carefully read the bail application and the counter application filed by the parties. The defendant’s offences is a four-count charge of stealing,” the judge said.

He admitted him to bail of N50 million with two sureties in like sum and ordered that the addresses of the duties be verified and must show evidence of tax payment in the last three years.