Jude Okoye Released from Ikoyi Prison After Meeting Bail in N1.38 Billion Fraud Case
Jude Okoye, the elder brother and former manager of the popular Nigerian music duo Psquare, has been released from Ikoyi Correctional Centre after fulfilling his bail conditions in a high-profile money laundering trial involving over N1.38 billion.
Jude, who also owns Northside Music Limited, is currently facing a seven-count charge alongside his company before Justice A. Owoeye at the Federal High Court in Ikoyi, Lagos. The case, brought forward by the Economic and Financial Crimes Commission (EFCC), includes serious allegations of laundering N1.38 billion, $1 million, and £34,537.59.
He was first arraigned on February 26, 2025, where he pleaded not guilty to all the charges. The court initially granted him bail in the sum of N100 million. However, just a week later, on March 3, the EFCC filed an additional four-count charge against him. These fresh allegations claim that Jude fraudulently diverted music royalties meant for his brothers, Peter and Paul Okoye.
According to the EFCC, Jude allegedly converted large sums of money for personal use, including $767,544.15, £34,537.59, $133,566.49, and $118,652.20. The commission also claimed that these actions were done with the intention of depriving his brother Peter Okoye of his rightful earnings. In response to the new charges, another bail condition was set at N50 million, which delayed his release due to challenges in meeting the requirements.
After spending more than two months in custody, Jude was finally freed on Wednesday evening. Paul Okoye, one half of Psquare, shared the news on Instagram with emotional videos showing Jude stepping out of the prison gates and reuniting with family members.
“Jude is finally out after 2 months + all their efforts to frustrate his bail has finally collapsed. Welcome home brother @judeengees And happy birthday,” Paul wrote, celebrating both his brother’s freedom and birthday in one post.
Meanwhile, Peter Okoye has opened up during a recent court session about the breakdown of their business relationship, hinting at deeper family and financial tensions behind the case.
