On February 26, the former manager of the now-defunct P-Square duo was charged with embezzlement of more than $1 million in royalties.
Governor Charles Soludo has urged SEDC to concentrate on one agenda or project at a time to achieve a meaningful impact.
Justice Rahman Oshodi granted Mr Okoye bail at N50 million, requiring two guarantors to pledge the same amount.
The defendant, however, pleaded not guilty to the charge.
Okoye, the brother of Peter and Paul, a singing duo, will stay in custody until he meets the bail requirements, as his trial is scheduled for April 14.
Mr Okoye pleaded not guilty.
According to Peter, despite confronting Paul multiple times about the company and the missing royalties, he was met with repeated denials.
