JUDE OKOYE, P-SQUARE'S ELDER BROTHER, EMBROILED IN N1.3BN FRAUD SCANDAL

By Jonah Israel

Jude Okoye and his younger brothers Paul and Peter

The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, former manager of the defunct music group P-Square, on charges of laundering ₦1.38 billion, $1 million, and £34,537.59.

Okoye, who is the elder brother of Paul and Peter Okoye, was arraigned alongside his company, Northside Music Ltd, before Justice Alexander Owoeye of the Federal High Court, Lagos. The seven-count charge includes allegations of directly acquiring a landed property worth ₦850 million and indirectly converting $1,019,762.87 using a bureau de change to conceal the proceeds of an unlawful act.

Okoye pleaded "not guilty" to the charges. The prosecution counsel, Larry Peters Aso, applied for a date for hearing and the remand of the defendant in the correctional facility pending trial. However, the defendant's counsel, Inibehe Effiong, requested a short date for the hearing of the bail application and asked that the defendant be remanded in the EFCC's custody pending the hearing.

Justice Owoeye adjourned the matter till February 28 for bail hearing and April 14 for trial, ordering that the defendant be remanded in the Ikoyi correctional facility.