The Lagos State Special Offences Court in Ikeja has ordered the remand of Jude Okoye, the elder brother and former manager of Paul and Peter Okoye, the twin musicians formerly known as P-Square.
Okoye is facing allegations of theft involving $1 million and £34,537.59. Justice Rahman Oshodi directed that he be held at the Ikoyi Correctional Centre while awaiting the hearing of his bail application. The court has set March 6 as the date for this hearing, marking a critical stage in the ongoing legal proceedings.
The Economic and Financial Crimes Commission (EFCC) arraigned Okoye alongside his company, Northside Music Ltd, on a four-count charge related to financial misappropriation. One of the charges alleges that he dishonestly converted $767,544.15, which was paid by Lex Records Limited for music digital distribution and publishing royalties.
The EFCC claims that this amount was meant to be shared with Peter Okoye, who had a special interest in the asset but was allegedly deprived of his rightful earnings. The charges are based on transactions that reportedly took place between 2016 and 2023.
Okoye, however, pleaded not guilty to all charges. Following his plea, the EFCC prosecutor, Mohammed Bashiru, requested a trial date and urged the court to remand him in custody until the case progresses.
In response, Okoye’s defense counsel, Clement Onwuenwunor (SAN), informed the court that he had already filed a bail application for his client on January 27. He argued that Okoye should be granted bail while awaiting trial. The EFCC, however, requested additional time to file a response to the bail request, leading to an adjournment of the case.
Justice Oshodi, after hearing submissions from both the prosecution and the defense, ruled that Okoye be remanded in custody until the next hearing. With the bail application set to be heard on March 6, the legal battle over Okoye’s alleged financial misconduct continues.
The outcome of this hearing will determine whether he remains in detention or is released on bail pending trial. The case has drawn significant public attention due to Okoye’s previous prominence in the Nigerian entertainment industry.
Meanwhile, Jude Okoye is also facing separate money laundering allegations before the Federal High Court in Lagos. This case involves alleged fraudulent transactions amounting to N1.38 billion, $1 million, and £34,537.59. In this instance, the court granted him bail on March 3, setting the amount at N100 million with two sureties of equal value. The conditions of this bail highlight the severity of the allegations and the financial magnitude of the case.
The Federal High Court has scheduled April 14 for the commencement of Okoye’s trial in the money laundering case. As he navigates these serious legal challenges, the outcome of both cases remains uncertain.
With multiple allegations of financial misconduct and fraud, the proceedings will continue to be closely monitored, particularly within the entertainment and financial sectors. The upcoming hearings will provide further clarity on Okoye’s legal fate.
