EFCC: Jude Okoye faces fraud charges

Jude Okoye Chigozie, the elder brother and former manager of Paul and Peter Okoye of the disbanded music group P-Square, faced fraud charges by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) before Justice AO Owoeye at the Federal High Court in Ikoyi, Lagos.

Jude Okoye and his company, Northside Music Ltd., face seven money laundering charges totaling N1.38 billion, $1 million, and £34,537.59, as confirmed by EFCC spokesperson Dele Oyewale in a Wednesday statement.

Specifically, one of the charges is:

"In 2022, Jude Okoye Chigozie and Northside Music Ltd. acquired a N850 million property in Ikoyi using unlawful funds, violating the Money Laundering (Prevention and Prohibition) Act, 2022."

A separate charge states:

In 2022, Jude Okoye Chigozie and Northside Music Ltd. converted $1,019,762.87 to naira via a bureau de change and distributed it, allegedly to conceal unlawful proceeds, violating the Money Laundering (Prevention and Prohibition) Act, 2022.

Okoye denied all charges. Following his plea, the prosecution, led by L.P. Aso, requested a trial date and asked for Okoye to be remanded in custody.

Effiong, Okoye's defense lawyer, requested a bail hearing adjournment and that Okoye remain in EFCC custody pending the decision.

Citing overcrowding at the EFCC detention facility, the prosecution objected to the defense's request. They insisted that Okoye be remanded to a correctional facility, as he had already entered a plea.

The court, presided over by Justice Owoeye, adjourned the hearing on the bail application until February 28, 2025, and scheduled the trial to commence on April 14, 2025. Justice Owoeye ordered that Okoye be remanded to the Ikoyi Correctional Centre.