Jude Okoye Regains Freedom After Two Months in Custody Amid Billion-Naira Fraud Allegations [VIDEOS]

 

After spending over two months behind bars, Jude Okoye, former manager of the celebrated Nigerian music duo Psquare, has finally regained his freedom following the fulfillment of stringent bail conditions tied to his ongoing N1.38 billion money laundering case.

The elder brother of renowned music stars Peter and Paul Okoye was seen leaving Ikoyi Correctional Centre on Wednesday evening, welcomed by a tearful but jubilant family. His release was confirmed through an emotional post shared by Paul Okoye on Instagram, where he announced, "Jude is finally out after 2 months + all their efforts to frustrate his bail has finally collapsed. Welcome home brother @judeengees And happy birthday."

The legal storm began on February 26, 2025, when Jude, alongside his company, Northside Music Limited, was arraigned before Justice A. Owoeye of the Federal High Court sitting in Ikoyi, Lagos. They faced a seven-count charge filed by the Economic and Financial Crimes Commission (EFCC), centered on allegations of laundering a staggering N1.38 billion, in addition to $1 million and £34,537.59.

Jude entered a plea of not guilty to the charges and was subsequently granted bail in the sum of N100 million. However, just as hopes of resolving the matter appeared to brighten, the EFCC intensified its case.

On March 3, prosecutors slammed the accused with an additional four-count charge, this time accusing Jude of misappropriating substantial music royalties belonging to his younger brothers, particularly Peter. The new allegations claim that funds meant to be distributed as royalties — including $767,544.15, £34,537.59, $133,566.49, and $118,652.20 — were instead funneled into Jude’s personal accounts.

These accusations, which have not only heightened legal scrutiny but also stirred public interest, allege that Jude "deliberately deprived Peter of his rightful earnings" through calculated financial maneuvers that exploited his prior position as Psquare's manager. The fallout of these revelations has further strained the already fractured business relationship between the Okoye brothers.

Peter Okoye, during a recent court session, opened up about the deteriorating professional dynamics with his elder sibling. He recounted instances of distrust and alleged manipulation that contributed to the group's eventual split and his decision to part ways from both the business and familial arrangements once tightly woven around Jude.

Despite the gravity of the accusations and the sizable amounts involved, Jude maintained his innocence and contested the charges vigorously through his legal counsel. Bail for the new set of charges was set at N50 million — a sum that proved difficult to secure immediately, keeping him incarcerated until Wednesday.

The news of his release has ignited diverse reactions across social media, particularly among fans and industry insiders. While some expressed joy at his reunion with family, others questioned the implications of the charges on his legacy and the wider Nigerian music management ecosystem.

Northside Music Limited, a key player in Nigeria’s music business in the early 2010s, was once lauded for its role in propelling Psquare to continental acclaim. However, these new developments cast a shadow over the company's reputation and raise concerns about the financial transparency of artist-manager relationships in the industry.

Legal experts observing the case suggest the coming months will be crucial as the EFCC prepares to present more evidence, while the defense aims to dismantle the prosecution’s claims. With the Okoye family now publicly entangled in a courtroom drama involving allegations of betrayal and financial misconduct, the case continues to unfold with significant public interest.

Jude’s next court appearance is expected in the weeks ahead, where his legal team will further contest the charges and seek to clear his name. For now, the former music mogul enjoys a brief respite surrounded by family, celebrating a bittersweet birthday marked by legal battles and public scrutiny.

As Nigeria watches closely, this case serves as a cautionary tale of fame, fortune, and the complex intersection of family and business.