A Lagos Special Offences Court has granted bail to former music manager Jude Okoye of defunct music duo P-Square, who is facing trial over allegations of misappropriating over a million dollars and £34,000.

Court documents dated January 27 alleged that Mr Okoye and his company, Northside Music Limited, diverted funds meant for digital distribution and publishing royalties totalling $1,019,763.87 and £34,537.59.

These monies were allegedly taken from music companies, including Lex Records Limited, Kobalt Music Services Limited, and Mech Limited.

Justice Rahman Oshodi granted Mr Okoye bail at N50 million, requiring two guarantors to pledge the same amount.

The sureties must reside within the court’s jurisdiction and provide evidence of tax payments for the past three years. Mr Okoye must also surrender his Nigerian and St. Kitts and Nevis passports as part of the conditions.

The Economic and Financial Crimes Commission was directed to inform immigration authorities to prevent Mr Okoye from leaving Nigeria.

During the proceedings, Mr Okoye’s lawyer, Clement Onwuenwnor, argued that the case was a civil dispute between business partners and urged the court to grant his client bail.

However, EFCC prosecutor Mohammed Bashir objected, warning that Mr Okoye’s dual citizenship and the severity of the allegations made him a flight risk.

Despite the prosecution’s objections, the judge ruled in favour of the defendant, stating that all affidavits had been considered before the decision was reached.

The case has been adjourned until May 16 and 23 for further proceedings.