N1.3bn fraud charge: Jude Okoye, Psquare’s elder brother, released from Ikoyi prison

Jude Okoye, Psquare’s former manager, has been released from Ikoyi prison after meeting his bail conditions in an ongoing N1.38 billion money laundering trial.

Jude, the elder brother to music stars Peter and Paul Okoye, and Northside Music Limited, his company, face a seven-count charge before A. Owoeye of the federal high court in Ikoyi, Lagos.

The charges include allegations of laundering N1.38 billion, $1 million, and £34,537.59. He pleaded not guilty when first arraigned on February 26, 2025, and was granted bail set at N100 million.

On March 3, the Economic and Financial Crimes Commission (EFCC) filed an additional four-count charge, accusing Jude of diverting music royalties meant for his brothers.

The prosecution alleged that he fraudulently converted funds, including $767,544.15, £34,537.59, $133,566.49, and $118,652.20 for personal use, “deliberately depriving Peter of his rightful earnings”.

For these fresh charges, Jude was granted another bail of N50 million — which he had been unable to meet.

But on Wednesday evening, Paul took to his Instagram page to reveal that his older brother had been released from prison.

He shared videos of Jude leaving the prison and reuniting with his family after being away for two months.

“Jude is finally out after 2months + all their efforts to frustrate his bail has finally collapsed. Welcome home brother @judeengees And happy birthday,” he wrote.

During a recent court sitting, Peter recounted his strained business relationship with his older brother.