Jude Okoye, the elder brother and former manager of Paul and Peter Okoye from the now-defunct music group, P-Square, has been charged with laundering N1.38 billion, $1 million, and £34,537.59 by the Economic and Financial Crimes Commission (EFCC) in a Federal High Court in Lagos. Jude was brought to court along with his company, Northside Music Ltd, facing a seven-count indictment before Justice Alexander Owoeye.
One of the charges stated: “That you, Jude Okoye Chigozie and Northside Music Ltd at some point in 2022, in Lagos, within the jurisdiction of this court, did directly acquire a property located at No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos valued at N850 million, knowing or reasonably should have known that the funds constitute part of proceeds from unlawful activities and thereby committed an offence under Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Another charge recounted: “That you, Jude Okoye Chigozie, and Northside Music Ltd at some point in 2022, in Lagos, within the jurisdiction of this court, did indirectly convert $1,019,762.87, held in Access Bank Plc by Northside Music Ltd through a bureau de change to its naira equivalent and remitted it into various bank accounts intending to conceal that these funds are part of the proceeds from unlawful acts, thus committing an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
He entered a plea of “not guilty” to all charges. Following his plea, the prosecution lawyer, Larry Aso, requested a hearing date and sought the remand of the defendant in a correctional facility until the trial. The defendant’s attorney, Inibehe Effiong, informed the court about a pending bail application and requested a brief hearing date. Effiong also requested that the defendant be held in the EFCC’s custody pending the bail application’s hearing.
Aso opposed the proposal to keep the defendant in EFCC custody, arguing that it was overcrowded with other suspects awaiting arraignment. He urged the court to remand the defendant to the correctional facility since he had entered a plea. Justice Owoeye postponed the case to February 28 for a bail hearing and April 14 for the trial. He also ordered that the defendant be remanded in Ikoyi prison.
