Justice A.O. Owoeye of the Federal High Court, sitting in Ikoyi, Lagos on Wednesday ordered the former manager of the defunct music group, P-Square, Mr Jude Okoye Chigozie, to be remanded in the Ikoyi Correctional Centre.
The showbiz personality was brought before the court by the Economic and Financial Crimes Commission (EFCC) alongside his company, Northside Music Limited, on a seven-count charge bordering on money laundering to the tune of N1.38 billion, $1 million and £34,537.59.
“That you, Jude Okoye Chigozie and Northside Music Ltd sometimes in 2022, in Lagos, within the jurisdiction of this court, did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth N850 million, 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,” one of the charges read.
“That you, Jude Okoye Chigozie and Northside Music Ltd sometimes in 2022, in Lagos, within the jurisdiction of this court, did indirectly using bureau de change, converted the sum of $1,019,762.87, 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 read.
After the charges were read to him, Mr Okoye pleaded “not guilty”, following which prosecution counsel, L.P. Aso, applied for a trial date and for him to be remanded in a correctional facility.
However, his lawyer, Mr Inibehe Effiong, informed the court of his client’s bail application and prayed for a short date of adjournment to enable its hearing, praying the court to have the defendant remanded in the EFCC custody pending the hearing of the bail application.
But the prosecution counsel objected, arguing that the commission’s holding facility was already congested with suspects awaiting arraignment and that the court should remand the defendant in the correctional facility since he has taken his plea.
Justice Owoeye ordered that the defendant be remanded in Ikoyi Correctional Centre and adjourned the matter till February 28, 2025, for the hearing of the bail application and April 14, 2025 for trial.