The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye Chigozie, former manager and elder brother of the now-defunct P-Square music duo, on allegations of money laundering involving ₦1.38 billion, $1 million, and £34,537.59.
Okoye appeared before Justice A.O. Owoeye at the Federal High Court in Ikoyi, Lagos, on Wednesday, alongside his company, Northside Music Ltd.
According to a statement by Dele Oyewale, the EFCC’s Head of Media & Publicity, the charges come from financial transactions allegedly linked to illicit funds. The anti-graft agency accuses Okoye of using suspected unlawful funds to purchase an ₦850 million property in Parkview Estate, Ikoyi, Lagos, in 2022.
Additionally, he allegedly converted over $1 million through a bureau de change and distributed the naira equivalent across multiple bank accounts to obscure the source of the funds. During the court session, Okoye pleaded not guilty to all seven charges.
Following his plea, the prosecution counsel, L.P. Aso, requested a trial date and urged the court to remand the defendant in a correctional facility.
In response, Okoye’s defense counsel, Inibehe Effiong, applied for a short adjournment to present a bail application and requested that his client remain in EFCC custody until the court’s ruling.
The prosecution opposed this request, citing overcrowding at EFCC detention facilities and insisting that Okoye should be remanded at the Ikoyi Correctional Centre.
Justice Owoeye upheld the prosecution’s argument, ruling that Okoye be held at the Ikoyi Correctional Centre pending further proceedings.
The court scheduled February 28, 2025, for the bail hearing and April 14, 2025, for the commencement of the trial.
