The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, the elder brother and former manager of the defunct music group P-Square, on charges of laundering ₦1.38 billion, $1 million, and £34,537.59.
Jude Okoye, alongside his company Northside Music Ltd, was arraigned before Justice Alexander Owoeye of the Federal High Court in Lagos on a seven-count charge. The charges include directly acquiring a landed property worth ₦850 million and indirectly converting $1,019,762.87 to naira equivalent, which is believed to be part of the proceeds of an unlawful act.
He pleaded “not guilty” to the charges. The prosecution counsel, Larry Peters Aso, applied for a date for hearing and for the remand of the defendant in the correctional facility pending trial. However, Jude Okoye’s counsel, Inibehe Effiong, informed the court of a pending bail application and asked for a short date for the hearing.
Justice Owoeye adjourned the matter till February 28 for bail hearing and April 14 for trial. He also ordered that the defendant be remanded in the Ikoyi correctional facility.
This development comes as the EFCC continues to crack down on alleged financial crimes in Nigeria. Jude Okoye’s arraignment is the latest in a series of high-profile cases involving celebrities and business leaders.