Jude Okoye granted N50m bail by court

An Ikeja Special Offences Court on Thursday, March 6th granted ex-manager of P-Square, Jude Okoye a 50 million bail.

Recall that Jude Okoye was arraigned by the Economic and Financial Crimes Commission (EFCC) on money laundering charges involving $1 million, ₦1.38 billion, and €34,537.59.

A few days ago, a Lagos court presided over by Justice Alexander Owoeye, ruled that Jude Okoye must provide two sureties, each valued at ₦100 million, and prohibited him from traveling outside the country.

However, Jude Okoye was picked up again a few hours after he was granted bail.

Again, in a new development, Jude’s lead counsel, Clement Onwuenwunor, SAN, Justice Rahman Oshodi said he had considered the affidavit evidence and oral submissions presented 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 discretion upon this court to grant bail in cases not punishable by death.

“I am therefore satisfied that the issue of bail should be resolved in the defendant’s favour,” the judge said.

He, therefore, granted the defendant bail in the sum of N50 million, with two sureties in like sum.