Court remands ex-P-Square manager over ₦1.38bn money laundering charges
On Wednesday, February 26, 2025, Justice Alexander Owoeye of the Federal High Court in Lagos ordered Jude Okoye Chigozie, the elder brother and former manager of the defunct music duo P-Square, to be remanded in the custody of the Nigerian Correctional Services. Okoye faces allegations of laundering approximately ₦1.38 billion, $1 million, and £34,537.59, as brought forward by the Economic and Financial Crimes Commission (EFCC).
Okoye, alongside his company Northside Music Ltd, was arraigned on a seven-count charge of money laundering, an offence said to violate Section 18 (2)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18 (3). The EFCC alleges that in 2022, Okoye acquired a property at 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, valued at N850 million, using funds he knew or should have reasonably known were proceeds of illegal activities.
Further accusations state that Okoye utilized a bureau de change to convert $1,019,762.87, held in an Access Bank Plc account under Northside Music Ltd, into its naira equivalent. The funds were then allegedly deposited into various bank accounts to obscure their illicit origins, according to the EFCC.
Appearing before Justice Owoeye, Okoye pleaded not guilty to all charges. Following his plea, EFCC prosecuting counsel L. P. Aso requested the court to set a trial date and remand Okoye to a correctional facility pending further proceedings. In response, defence lawyer Inibehe Effiong informed the court of a pending bail application, requesting a swift hearing date and asking that Okoye be held in EFCC custody until the bail matter is resolved.
Aso countered this, arguing that the EFCC’s detention facilities were overcrowded with suspects awaiting arraignment, urging the court to remand Okoye in a correctional facility instead. Justice Owoeye sided with the prosecution in a brief ruling, ordering Okoye’s detention at the Ikoyi facility of the Nigerian Correctional Services.
The court adjourned the case to February 28, 2025, for the bail hearing and scheduled the trial to commence on April 14, 2025.
Okoye’s arraignment marks a significant development in the legal scrutiny surrounding the former manager of Paul and Peter Okoye, whose musical partnership as P-Square once dominated Nigeria’s entertainment scene before their widely publicized split. As the case unfolds, it promises to shed light on the financial dealings tied to one of the country’s most prominent music dynasties.
Get Fresh updates from NotJustOk as they drop via X and Facebook.
