Former P-Square’s Manager, Jude Okoye Charged with N1.3BN Fraud, Reminded at Ikoyi prison
By Trek Africa Newspaper
Jude Okoye, the former manager of the popular music group P-Square, has been arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of laundering ₦1.38 billion, $1 million, and £34,537.59.¹ Okoye, who is the elder brother of Paul and Peter Okoye, was arraigned alongside his company, Northside Music Ltd, before Justice Alexander Owoeye of the Federal High Court, Lagos.
The seven-count charge against Okoye includes allegations of directly acquiring a landed property worth ₦850 million, which was believed to be proceeds of an unlawful act. Another count alleges that Okoye used a bureau de change to convert $1,019,762.87 into naira and remitted it into various bank accounts, with the intention of concealing the source of the funds.
Okoye pleaded “not guilty” to the charges. His counsel, Inibehe Effiong, informed the court of a pending bail application and requested a short date for the hearing. However, the prosecution counsel, Larry Peters Aso, objected to Okoye being remanded in the EFCC custody, citing congestion with suspects awaiting arraignment.
Justice Owoeye adjourned the matter until February 28 for bail hearing and April 14 for trial, ordering Okoye to be remanded in the Ikoyi correctional facility.
