EFCC Charges Jude Okoye, Former P-Square Manager, with Alleged ₦1.38 Billion Fraud
The Economic and Financial Crimes Commission (EFCC) in Lagos brought Jude Okoye Chigozie, the older brother and former manager of Paul and Peter Okoye from the now-defunct P-Square music duo, to court. He appeared before Justice A.O. Owoeye at the Federal High Court in Ikoyi, Lagos, facing charges related to an alleged fraud of N1.38 billion.
Jude Okoye and his company, Northside Music Ltd, have been taken to court for allegedly laundering a large amount of money: ₦1.38 billion, $1 million, and £34,537.59.
Jude Okoye pleaded "not guilty" to the charges against him. The prosecution asked for a trial date and for Okoye to be held in a correctional facility. However, Okoye's lawyer asked for bail and wanted Okoye to be held in the EFCC custody instead. The prosecution disagreed, saying the EFCC facility was too crowded and that Okoye should be held in the correctional facility since he'd already entered his plea. The judge ultimately decided to remand Okoye in the Ikoyi correctional facility and set a bail hearing for February 28 and a trial date for April 14.
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Jude Okoye and his company, Northside Music Ltd, have been taken to court for allegedly laundering a large amount of money: ₦1.38 billion, $1 million, and £34,537.59.
Jude Okoye pleaded "not guilty" to the charges against him. The prosecution asked for a trial date and for Okoye to be held in a correctional facility. However, Okoye's lawyer asked for bail and wanted Okoye to be held in the EFCC custody instead. The prosecution disagreed, saying the EFCC facility was too crowded and that Okoye should be held in the correctional facility since he'd already entered his plea. The judge ultimately decided to remand Okoye in the Ikoyi correctional facility and set a bail hearing for February 28 and a trial date for April 14.
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One of the charges reads: “That you, Jude Okoye Chigozie and Northside Music Ltd sometimes 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 N850,000,000.00 (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 sometimes in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly using bureau de change, converted 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 Ltd to the Naira equivalent and remitted into various bank accounts with intention of concealing that the said fund formed 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."
Another charge reads: “That you, Jude Okoye Chigozie and Northside Music Ltd sometimes in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly using bureau de change, converted 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 Ltd to the Naira equivalent and remitted into various bank accounts with intention of concealing that the said fund formed 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."
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