Jude Okoye, elder brother and former manager of 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.
The music executive was brought before Justice Alexander Owoeye of the Federal High Court, Lagos, alongside his company, Northside Music Ltd, facing a seven-count charge.
Prosecutors allege that in 2022, Okoye knowingly acquired a property in Ikoyi, Lagos, worth ₦850 million using funds suspected to be proceeds of unlawful activities. Additionally, he is accused of converting over $1 million through bureau de change transactions to conceal the source of the funds.
Okoye pleaded not guilty to the charges. His lawyer, Inibehe Effiong, sought bail and requested that he remain in EFCC custody pending the hearing.
However, the prosecution, led by Larry Peters Aso, objected, citing overcrowding in EFCC detention and urged the court to remand him in a correctional facility.
Justice Owoeye scheduled February 28 for the bail hearing and April 14 for trial, ordering Okoye’s remand at the Ikoyi correctional facility.
