Jude Okoye, elder brother and former manager of the defunct music group P-Square, has been remanded in prison following his arraignment on new fraud charges totaling $1,019,763.87 and £34,537.59
The Economic and Financial Crimes Commission (EFCC) filed a four-count charge against Okoye on Monday, accusing him of dishonestly diverting music proceeds from three companies for personal use, allegedly depriving his brother, Peter ‘Mr. P’ Okoye, of his rightful earnings.
Appearing before Justice Ramon Oshodi at the Ikeja High Court on Tuesday, Okoye pleaded not guilty. His defense counsel, Clement Onwuenwunor, requested bail, citing a related case at the Ikoyi court where Okoye had already been granted bail. However, prosecuting counsel MK Bashiru opposed the application, stating he had yet to file a response.
Justice Oshodi declined to grant immediate bail, directing the prosecution to submit its response before the next hearing on March 6. The trial is scheduled for May 16 and 23.
This development comes just a day after Okoye was granted N100 million bail in a separate case involving alleged money laundering of N1.38 billion, $1 million, and £34,537.59.
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