The Special Offences Court sitting in Ikeja on Thursday granted bail in the sum of N50m to Jude Okoye, the elder brother and former manager of Paul and Peter Okoye of the defunct music group, P-Square, on charges of stealing $1m U. S. dollars and 34, 537 pounds.
Justice Rahman Oshodi admitted the defendant to bail with two sureties in like sum.
The judge said the sureties must be gainfully employed and show evidence of three years ‘ tax payment to the Lagos State Government.
He also ruled that the defendant should submit his dual citizenship passport to the chief registrar of the court.
Justice Oshodi also ordered the EFCC to inform the immigration office of the withholding of the defendant’s international passports pending the determination of the case.
The judge said: “I have considered the affidavit evidence submitted by the parties as well as the oral application at today’s proceeding.
” 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 the discretion of this court to grant bail in cases not punishable by death
” I am therefore satisfied that the issue for determination of bail should be resolved in the defendant’s favour. “
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Jude is standing trial alongside his company, Northside Music Ltd on a four-count charge bordering on theft, proffered against him by the Economic and Financial Crimes Commission (EFCC).
The defendant, however, pleaded not guilty to the charge.
While moving his bail application, his counsel, Clement Onwuenwunor (SAN), asked the court to admit the defendant to bail on liberal terms.
Onwuenwunor argued that the defendant had been on administrative bail since the inception of the case with the EFCC and had not jumped bail.
According to him, the defendant owns 40 percent of the family company while the nominal complainant owns just 30 percent.
He urged that for the purpose of family unity, the defendant should be released on bail in most liberal terms.
The EFCC Counsel, Mohammed Bashir, in his 13-paragraph counter affidavit dated March 6, had argued that the defendant has a dual citizenship which could make him a flight risk.
Bashir, also told the court that the defendant was diligent in reporting himself to the commission while on administrative bail.
” To be honest, the defendant was diligent at reporting at the commission but this is a different case.
“He is standing trial on a multiple count charge before your lordship and he has dual citizenship which makes him a flight risk.
” However, we leave everything at the discretion of the court, “he said.
Source: Channels TV
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