WATCH THE VIDEO HERE THE Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, the elder brother and former manager of Paul and Peter Okoye of the defunct music group P-Square, on charges of laundering ₦1.38 billion, $1 million, and £34,537.59. Okoye, along with his company, Northside Music Ltd, was brought before Justice Alexander Owoeye at the Federal High Court in Lagos on a seven-count charge related to money laundering. One of the charges alleges that in 2022, Okoye and his company acquired a property at No. 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, valued at ₦850 million, despite knowing or reasonably suspecting that the funds used were proceeds of unlawful activities. This act is said to contravene Section 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022. Another charge accuses Okoye of using a bureau de change to convert $1,019,762.87 from an Access Bank account operated by Northside Music Ltd into naira and transferring it across multiple accounts to conceal its alleged illicit origins. This offense falls under Section 18(2)(a) of the Money Laundering Act. Okoye pleaded not guilty to all charges. Following his plea, the prosecution, represented by Larry Peters Aso, requested a trial date and asked that the defendant be remanded in a correctional facility. However, Okoye’s lawyer, Inibehe Effiong, informed the court of a pending bail application and requested that his client remain in EFCC custody until the hearing. The prosecution objected, citing congestion in EFCC detention facilities and urging the court to send Okoye to a correctional center instead. Justice Owoeye adjourned the bail hearing to February 28 and scheduled the trial for April 14. In the meantime, he ordered that Okoye be remanded in the Ikoyi correctional facility.
EFCC arraigns Jude Okoye over alleged money laundering
