P-Square’s Brother, Jude Okoye Remanded In Prison Over Alleged Fraud

The Federal High Court in Lagos on Wednesday, remanded Jude Okoye, the elder brother and former manager of the defunct music duo P-Square, in correctional facility over alleged money laundering involving ₦1.38 billion, $1 million, and £34,537.59.

Jude Okoye, along with his company Northside Music Ltd, was arraigned before Justice Alexander Owoeye by the Economic and Financial Crimes Commission of the Federal High on a seven-count charge related to financial crimes.

One of the charges read, “That you, Jude Okoye Chigozie and Northside Music Ltd, sometime in 2022 in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful acts, thereby committing an offence contrary to Section 18 (2)(d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Another charge alleges that Jude Okoye and his company used a Bureau de Change operator to convert $1,019,762.87 (One million nineteen thousand, seven hundred and sixty-two dollars, eighty-seven cents) domiciled in Access Bank Plc into naira and remitted the funds into various accounts with the intent to conceal the source of the money, in violation of the Money Laundering Act.

However, the defendant pleaded “not guilty” to the charges.

Following his plea, EFCC counsel Larry Peters Aso applied for a trial date and requested that the defendant be remanded in a correctional facility pending trial.

However, defence counsel Inibehe Effiong informed the court of a pending bail application and urged the court to keep Okoye in EFCC custody until the application is heard.

The prosecution opposed the request, citing congestion in EFCC facilities and urging the court to remand him to a correctional centre instead.

Justice Owoeye subsequently adjourned the case to February 28 for a bail hearing and fixed April 14 for trial commencement.

The judge also ordered that Jude Okoye be remanded at the Ikoyi correctional facility pending the determination of his bail application.