Jude Okoye Arraigned For Alleged Theft Of $1M, £34,500 In Royalties

Jude Okoye, the former manager of hip-hop musicians and the now-defunct group P-square, was charged by the Economic and Financial Crimes Commission on Tuesday with new theft allegations of $1,019,763.87 and £34,537.59 in the Lagos State Special Offences Court in Ikeja.

Jude is additionally encountering a similar charge with seven counts before Federal High Court Justice Alexander Owoeye.

On Monday, the Federal High Court granted him bail in the amount of N100 million, with two sureties.

The Economic and Financial Crimes Commission preferred four counts against Jude Okoye and his Northside Music Limited company in the additional accusations designated Ref/99260/2025, which are being heard before Justice Rahman Oshodi.

Prosecutor Mohammed Bashiru of the EFCC declared his appearance on behalf of the prosecution when the matter was called, while defence attorney Clement Onwuenwunor (SAN) represented the two defendants.

The prosecutor, Mohammed Bashiru, informed the court that Jude Okoye and his company, Northside Music Limited, dishonestly converted $767,544.15 for their own use. This amount, paid by Lex Records Limited as royalties for music digital distribution/publishing, was allegedly done with the intent to permanently deprive Peter Okoye of his rightful share in the property.

Bashiru stated that the alleged acts occurred between 2016 and 2023.

The prosecutor further charged Jude Okoye of defrauding Lex Records Limited by converting £34,537.59 in payment for music digital distribution/publishing royalties with the goal to permanently deprive Peter Okoye of his particular interest in the property.

The EFCC claimed that P-Square’s ex-manager defrauded Kobalt Music of $133,566.49 in digital distribution and publishing royalties, with the goal to permanently deprive Peter Okoye of his unique interest in the property.

According to the anti-graft agency, the defendant fraudulently converted the sum of $118,652.23, paid by Mtech Limited, as payment for music digital distribution publishing royalties with the goal to permanently deprive Peter Okoye of his unique interest in the property.

The EFCC stated that the offences committed breached sections 278 and 285 of the Criminal Laws of Lagos State, 2011.

The defendant, however, entered a not guilty plea to the accusations that were brought against him.

The defendant’s attorney informed the court that he had a bail application dated February 27, 2025, following the arraignment.