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
Jude was arraigned alongside his company, Northside Music Ltd, before Justice Alexander Owoeye of the Federal High Court in Lagos on a seven-count charge.
One of the counts alleged that he directly acquired a property worth ₦850 million at Parkview Estate, Ikoyi, Lagos, knowing or reasonably suspecting that the funds were proceeds of an unlawful act. Another count accused him of converting over $1 million through a bureau de change to conceal the source of the funds.
He pleaded not guilty to the charges. The prosecution requested his remand in a correctional facility, while his defense counsel sought his detention in EFCC custody pending a bail hearing. The court ruled in favor of the prosecution and ordered his remand at the Ikoyi correctional facility.
Justice Owoeye adjourned the bail hearing to February 28 and set April 14 for trial.
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