The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye Chigozie, former manager and elder brother of Paul and Peter Okoye of the defunct P-Square music group, on charges of money laundering totaling ₦1.38 billion, $1 million, and £34,537.59.
Okoye was arraigned alongside his company, Northside Music Ltd, before Justice A.O. Owoeye of the Federal High Court in Ikoyi, Lagos, on Wednesday, February 26. The seven-count charge includes allegations of acquiring property with illicit funds and illegally converting foreign currency through a bureau de change.
One of the charges states that Okoye allegedly purchased a property worth ₦850 million in Parkview Estate, Ikoyi, using proceeds from unlawful activities. Another count accuses him of converting over $1 million through Access Bank and remitting it into multiple accounts to conceal its origin.
Okoye pleaded not guilty to all charges. EFCC prosecutor L.P. Aso requested a trial date and urged the court to remand the defendant in a correctional facility. Defense counsel Inibehe Effiong applied for bail and requested that Okoye be held in EFCC custody until the application is heard. The prosecution opposed this, citing overcrowding in EFCC detention.
Justice Owoeye adjourned the bail hearing to February 28, 2025, and set April 14, 2025, for trial. The court ordered Okoye’s remand at Ikoyi Correctional Centre.
