A Special Offences Court in Ikeja, Lagos, has granted Jude Okoye bail in the sum of N100 million, requiring two sureties. The ex-manager of P-Square and elder brother to Peter and Paul Okoye is facing trial over allegations of stealing and illegal diversion of funds worth $767,544.15, according to the Economic and Financial Crimes Commission (EFCC).
Jude Okoye Faces EFCC Charges Over Alleged Theft
The EFCC claims Jude Okoye and his company, Northside Music Limited, diverted royalties meant for P-Square’s digital music distribution and publishing rights. The funds, allegedly paid by Lex Records Limited, were reportedly meant for Peter Okoye but were instead misappropriated by Jude Okoye.
Additionally, the EFCC has leveled fresh charges of stealing another $1 million, £34,537.59, and laundering N1.38 billion, $1 million, and £34,537.59. These charges are already pending before the Federal High Court in Ikoyi, Lagos.
EFCC Pushes for Conviction as 29 Witnesses Set to Testify
The allegations against Jude Okoye and Northside Music Limited span transactions between 2016 and 2023. During the court session, EFCC prosecutor Mohammed Bashiru confirmed that the anti-graft agency has lined up 29 witnesses to testify against him.
Justice Ramon Oshodi, ruling on his bail application, granted Jude Okoye N100 million bail and ordered him to surrender his passports due to his dual citizenship. The case has been adjourned for further hearings.
Will Jude Okoye Escape EFCC Charges? Court Decision Looms
With the EFCC cracking down on financial crimes, the case against Jude Okoye and Northside Music Limited could set a legal precedent for the entertainment industry. As the trial unfolds, the final ruling will determine whether he clears his name or faces serious legal consequences.
