The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye Chigozie, the elder brother and former manager of Paul and Peter Okoye of the defunct P-Square group, over alleged money laundering involving ₦1.

Okoye, alongside his company Northside Music Ltd, appeared before Justice A.O. Owoeye at the Federal High Court in Ikoyi, Lagos, facing a seven-count charge tied to financial crimes.

Key Allegations

One of the charges states that in 2022, Okoye and Northside Music Ltd allegedly acquired a luxury property worth ₦850 million at 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, knowing it was purchased with proceeds of an unlawful act.

Another charge accuses them of converting $1,019,762.87 via a bureau de change, transferring the naira equivalent into multiple bank accounts to conceal its source—an offense under the Money Laundering (Prevention and Prohibition) Act, 2022.

Court Proceedings & Bail Battle

Okoye pleaded not guilty to all charges. The EFCC, represented by L.P. Aso, requested a trial date and urged the court to remand him in prison custody.

His defense counsel, Inibehe Effiong, applied for bail, pleading for his client to remain in EFCC custody instead of being sent to prison. However, the prosecution objected, citing overcrowding at EFCC’s detention facility.

Next Steps

Justice Owoeye ruled that Okoye be remanded at Ikoyi Correctional Centre and scheduled the bail hearing for 28 February 2025. The trial is set to commence on 14 April 2025.

This high-profile case has sent shockwaves through the entertainment industry, raising serious concerns about financial crimes within the music business. Stay tuned for more updates!