Jude Okoye, the elder brother and former manager of music duo P-Square, has been arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of money laundering amounting to ₦1.38 billion, $1 million, and £34,537.59.
The music executive was arraigned alongside his company, Northside Music Ltd, before Justice Alexander Owoeye of the Lagos State High Court on Tuesday, February 26, 2025.
Charges Against Jude Okoye
According to the EFCC, Okoye allegedly used part of the laundered funds to acquire a property worth ₦850 million at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos in 2022 — an act they claim was done with full knowledge that the money was proceeds of unlawful activity.
Another charge stated that Okoye used bureau de change operators to convert $1,019,762.87 into naira and transferred the funds into various bank accounts to conceal the origin of the money.
The EFCC insists the transactions are in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
Jude Okoye Pleads Not Guilty
During the court proceedings, Okoye pleaded not guilty to all the charges. His lawyer, Inibehe Effiong, requested that his client be remanded in EFCC custody pending the hearing of the bail application. However, the prosecution counsel, Larry Peters Aso, objected to the request, stating that the EFCC facility is already overcrowded.
Justice Owoeye ruled that Jude Okoye be remanded at the Ikoyi Correctional Facility until his bail hearing on February 28, while the trial is set to begin on April 14, 2025.
What You Need to Know
• Jude Okoye is the elder brother of Paul and Peter Okoye of the defunct P-Square group.
• He was the manager of P-Square during their peak years before the brothers went their separate ways.
• Northside Music Ltd is the record label that once managed Cynthia Morgan.
The case has sparked widespread reactions on social media, with many fans expressing shock at the allegations against the popular music executive.
