Jude Okoye, the elder brother and former manager of the defunct music group P-Square, has been remanded in prison following his arraignment on fresh charges of $1,019,763.87 and £34,537.59 fraud.
On Monday, the Economic and Financial Crimes Commission (EFCC) filed a four-count charge against Okoye, alleging that he “dishonestly converted” music proceeds from three companies for personal use.
According to the charges, Okoye’s actions were intended “to permanently deprive” his brother Peter ‘Mr. P’ Okoye of his benefits from the payments.
The charge sheet, dated January 27, 2025, specifically stated that Okoye and his company, Northside Music Limited, converted the funds.
It reads in part: “$767,544.15 paid by Lex Records Limited as payment for music digital distribution/publishing royalties. £34,537.59 paid by Lex Records Limited as payment for music digital distribution/publishing royalties.
“$133,566.49 paid by Kobalt Music Services Limited as payment for music digital distribution/publishing royalties. $118,652.23 paid by Mech Limited as payment for music digital distribution/publishing royalties.”
The EFCC stated that Okoye’s actions contravene sections 278 and 285 of the Lagos State Criminal Law of 2011.
On Tuesday, Okoye appeared before Justice Ramon Oshodi of the Ikeja High Court, where he pleaded not guilty to the charges.
His lawyer, Clement Onwuenwunor, told the court that his client had a similar case ongoing at the Ikoyi court, where he had already been granted bail.
He argued that the dispute was a family matter between Okoye and his brothers from P-Square and insisted that his client, a well-known entertainer, would not jump bail. He, therefore, urged the court to grant Okoye bail pending the start of his trial.
However, the prosecuting counsel, MK Bashiru, opposed the bail request, stating that he had not yet filed a response to the application.
In his ruling, Justice Oshodi said, “I cannot hastily grant the bail application” because he needed to be fully aware of the filings.
He directed the prosecution to file a response to the bail application before the next hearing scheduled for March 6. The trial was set for May 16 and 23.
Okoye’s latest legal trouble comes barely a day after he was granted N100 million bail over alleged fraud charges.
Last week, he was arraigned by the EFCC on charges of laundering N1.38 billion, $1 million, and £34,537.59.
He pleaded not guilty and was remanded at the Ikoyi Correctional Facility by Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos.
