EFCC Arraigns Former P-Square Manager Jude Okoye for Alleged Money Laundering
The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye Chigozie, former manager and elder brother of Paul and Peter Okoye of the defunct music duo P-Square, on charges of money laundering. Okoye appeared before Justice A.O. Owoeye at the Federal High Court in Ikoyi, Lagos, alongside his company, Northside Music Ltd.
Allegations and Charges
According to EFCC spokesperson Dele Oyewale, Okoye faces a seven-count charge related to money laundering involving sums totaling N1.38 billion, $1 million, and £34,537.59. The charges include allegations that in 2022, he acquired a property valued at N850 million in Ikoyi, Lagos, knowing that the funds used were linked to unlawful activities.
Another charge states that he allegedly converted over $1 million through a bureau de change and distributed the naira equivalent across multiple bank accounts in an attempt to conceal the origin of the funds. These offenses are said to be in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
Court Proceedings and Bail Request
Okoye pleaded not guilty to all charges. Following his plea, prosecution counsel L.P. Aso requested a trial date and asked that the defendant be remanded in a correctional facility.
Defense counsel Inibehe Effiong, however, sought a short adjournment to hear Okoye’s bail application, requesting that his client be held in EFCC custody pending the decision. The prosecution opposed this request, arguing that the EFCC detention facility was overcrowded and that Okoye should be remanded in a correctional center.
Next Court Dates
Justice Owoeye scheduled the bail hearing for February 28, 2025, and set April 14, 2025, for the commencement of trial. Meanwhile, he ordered that Okoye be held at the Ikoyi Correctional Centre.
