The Economic and Financial Crimes Commission (EFCC) has taken legal action against Jude Okoye, the former manager and elder brother of Paul and Peter Okoye from the now-defunct P-Square music group, over allegations of financial misconduct involving ₦1.38 billion, $1 million, and £34,537.59.
Okoye, along with his company Northside Music Ltd, appeared before Justice Alexander Owoeye at the Federal High Court in Lagos, facing a seven-count charge.
One of the charges states:
“That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Another charge reads:
“That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly using bureau de change convert the sum of $1,019,762.87 (One million nineteen thousand, seven hundred and six-two dollars eighty-seven cents), domiciled in Access Bank Plc operated by Northside Music Lid to the naira equivalent and remitted into various bank accounts with the intention of concealing that the said fund form part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Okoye entered a plea of “not guilty” to the accusations.
Following this, prosecution counsel Larry Peters Aso requested that the court set a trial date and remand the defendant in a correctional facility while awaiting the proceedings.
On the other hand, defence counsel Inibehe Effiong informed the court about a pending bail application and requested a short date for its hearing. He also urged the court to allow his client to remain in EFCC custody until the bail hearing.
Aso objected to this, stating that the EFCC’s detention facility was overcrowded with suspects yet to be arraigned. He insisted that since Okoye had already taken his plea, he should be placed in a correctional centre.
Justice Owoeye ruled that the bail hearing would take place on February 28, while the trial would commence on April 14. He further ordered Okoye’s remand at the Ikoyi correctional facility.
God should just intervene