Popular defunct music group, P-Square’s Peter and Paul’s elder brother, Jude Okoye is in big trouble.
The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned him before Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos.
EFCC in a statetement by the spokesperson, Dele Oyewale said:
“Jude Okoye was arraigned alongside his company, Northside Music Ltd on a seven-count charge of money laundering amounting to N1.38 billion, $1 million, and £34,537.59.”
The charges reads in part: “That you, Jude Okoye Chigozie, and Northside Music Ltd, sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No. 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, worth N850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known formed part of the proceeds of an unlawful act, thereby committing an offence contrary to Section 18 (2)(d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
“That you, Jude Okoye Chigozie, and Northside Music Ltd, sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly, using a bureau de change, convert the sum of $1,019,762.87 (One million, nineteen thousand, seven hundred and sixty-two dollars, eighty-seven cents), domiciled in Access Bank Plc and operated by Northside Music Ltd, to the naira equivalent and remitted it into various bank accounts with the intention of concealing that the said fund formed part of the proceeds of an unlawful act, thereby committing an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Okoye pleaded “not guilty” to the charges. Following this, the prosecution counsel, L.P. Aso, applied for a trial date and requested that the defendant be remanded in a correctional facility.
Defence counsel Inibehe Effiong, however, informed the court of Okoye’s bail application and requested a short adjournment for its hearing. He also prayed that the defendant be remanded in EFCC custody pending the determination of the bail application.
Objecting to this request, the prosecution argued that the EFCC’s holding facility was already congested with suspects awaiting arraignment and urged the court to remand the defendant in a correctional facility, as he had already taken his plea.
Justice Owoeye adjourned the matter until 28 February 2025 for the bail application hearing and 14 April 2025 for trial. He ordered that the defendant be remanded in Ikoyi Correctional Centre.