P-Square’s Elder Brother And Former Manager, Jude Okoye, Remanded in Ikoyi Prison as EFCC Charges Him with ₦1.3 Billion Fraud and Money Laundering
Jude Okoye, the elder brother and former manager of the separated music duo P-Square, has been remanded in prison over alleged financial crimes involving ₦1.38 billion, $1 million, and £34,537.59.
The Economic and Financial Crimes Commission (EFCC) arraigned Okoye and his company, Northside Music Ltd, before Justice Alexander Owoeye of the Federal High Court in Lagos on Wednesday. The seven-count charge against him includes allegations of money laundering and illegal financial transactions.
Details of the Charges
One of the charges alleges that in 2022, Okoye acquired a property at No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, worth ₦850 million, knowing or reasonably suspecting the funds were proceeds of unlawful activities.
Another charge states that he used a Bureau de Change operator to convert $1,019,762.87 held in Access Bank Plc into naira and transferred the funds to multiple accounts to conceal the source of the money.
Court Proceedings
Okoye pleaded “not guilty” to all charges. Following his plea, EFCC prosecutor Larry Peters Aso requested a trial date and urged the court to remand the defendant in prison pending trial.
His defence counsel, Inibehe Effiong, sought to keep Okoye in EFCC custody until his bail application is heard. However, the prosecution opposed the request, arguing that EFCC facilities were congested.
Justice Owoeye ruled that Okoye be remanded at the Ikoyi Correctional Centre pending his bail hearing on February 28. The trial is set to commence on April 14.
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