Court Orders Remand of Jude Okoye Over Alleged $1 Million Theft
A Lagos State Special Offences Court in Ikeja has ordered the remand of Jude Okoye, former manager and elder brother of Paul and Peter Okoye from the defunct music duo P-Square, over allegations of financial misconduct involving $1 million and £34,537.59.
Presiding over the case, Justice Rahman Oshodi directed that Okoye be held at the Ikoyi Correctional Centre while awaiting the hearing of his bail application. The court set March 6 as the date for the bail hearing.
Charges and Allegations
The Economic and Financial Crimes Commission (EFCC) arraigned Okoye and his company, Northside Music Ltd, on a four-count charge related to financial mismanagement.
One of the allegations states that Okoye misappropriated $767,544.15, a sum reportedly paid by Lex Records Limited for music digital distribution and publishing royalties. The EFCC claims the funds were meant to be shared, including a portion belonging to his brother, Peter Okoye.
According to EFCC prosecutor Mohammed Bashiru, the alleged offenses occurred between 2016 and 2023.
Court Proceedings
Okoye pleaded not guilty to the charges. In response, the EFCC prosecutor requested a trial date and urged the court to remand the defendant in custody.
His defense counsel, Clement Onwuenwunor (SAN), informed the court of a pending bail application filed on January 27. He appealed for his client’s release on bail while awaiting trial. The prosecution, however, requested more time to respond to the application.
After listening to both parties, Justice Oshodi ordered Okoye’s remand and scheduled the next hearing for Wednesday, March 6.
Additional Legal Battles
Beyond this case, Okoye is also facing separate money laundering allegations involving N1.38 billion, $1 million, and £34,537.59 at the Federal High Court in Lagos.
On March 3, the Federal High Court granted him bail set at N100 million, with two sureties of the same amount. His trial for that case is scheduled to begin on April 14.
