The Lagos State Special Offences Court in Ikeja has ordered the remand of Jude Okoye, the elder brother and former manager of Paul and Peter Okoye of the defunct music duo P-Square, over an alleged theft of $1 million and £34,537.59.
Justice Rahman Oshodi directed that Okoye be held at Ikoyi Correctional Centre pending the hearing of his bail application. The judge scheduled the bail hearing for March 6.
The Economic and Financial Crimes Commission (EFCC) arraigned Okoye and his company, Northside Music Ltd, on a four-count charge of fraud and financial misconduct.
According to the EFCC, Okoye allegedly converted $767,544.15 paid by Lex Records Limited for digital music distribution and publishing royalties. The funds, the commission claims, were meant for his brother, Peter Okoye.
The EFCC prosecutor, Mohammed Bashiru, stated that the alleged offences were committed between 2016 and 2023. However, Okoye pleaded not guilty to all charges.
The prosecution requested that Okoye remain in custody until trial. Meanwhile, his lawyer, Clement Onwuenwunor (SAN), informed the court that a bail application had been filed on January 27, requesting Okoye’s release.
The EFCC prosecutor, however, asked for a short adjournment to respond to the application. Following the arguments from both sides, Justice Oshodi adjourned the case to Wednesday and ordered Okoye’s remand.
Aside from this case, Okoye is also facing money laundering allegations involving N1.38 billion, $1 million, and £34,537.59 before the Federal High Court in Lagos.
On March 3, the court granted him bail of N100 million with two sureties in like sum. The trial is set to begin on April 14.
This case has sparked widespread attention in Nigeria’s entertainment and financial sectors, with many following the developments closely.
- 08045674546
- info@mediaplusng.com
- Lagos, Nigeria
