The Federal High Court, in Lagos on Monday granted N100m bail to Jude Okoye, the former manager of the hip-hop artists, the defunct music group P-square.
Justice Alexander Owoeye granted the bail with two surgeries in like sum.
The court also ruled that Jude Okoye must not travel out of the country.
The judge held that one of the sureties must be the owner of a landed property amongst others.
Jude Okoye, who is the elder brother to Peter and Paul of P-square, was arraigned last week Wednesday before the court by the Economic and Financial Crimes Commission on alleged crime of money laundering involving N1.38 bn, $1m, and £34,537.59.
He was arraigned alongside his company, Northside Music Limited, on seven counts preferred against him by EFCC.
The commission informed the court that the defendant, along with his company, Northside Music Limited, directly acquired a landed property at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, in 2022. The property, valued at ?850 million, was allegedly purchased with funds the defendant knew or ought to have reasonably known were proceeds of unlawful activities.
