The Economic and Financial Crimes Commission (EFCC) is set to arraign Jude Okoye, the elder brother and former manager of Paul and Peter Okoye, the twin musicians formerly known as P-Square, on fresh charges involving the alleged theft of $1 million and £34,537.59.
The case will be heard before the Lagos State Special Offences Court sitting in Ikeja on Tuesday. This follows the four-count charge filed by EFCC prosecutor, Aso Larry Peters, on January 27. Justice Rahman Oshodi is expected to preside over the hearing.
Initially, Jude Okoye’s arraignment was scheduled for Monday, March 3. However, it was postponed because he was absent in court. The Ikoyi Correctional Centre, where he was remanded, cited that it had not received any official notification regarding his scheduled arraignment, leading to a delay in proceedings.
According to the charges brought against him, the EFCC alleges that Jude Okoye dishonestly converted to his own use a sum of $767,544.15, an amount paid to Lex Records Limited as payment for music digital distribution and publishing royalties.
The commission claims that this sum was meant for Peter Okoye, and Okoye took it with the intent to permanently deprive his brother of his financial interests in the royalties. The allegations further state that between 2016 and 2023, Jude Okoye misappropriated £34,537.59, also paid by Lex Records Limited for similar purposes.
This, the EFCC asserts, was another act intended to deprive Peter Okoye of his rightful financial benefits as an artist and co-owner of the defunct P-Square brand.
In addition to these accusations, the EFCC alleges that Jude Okoye converted $133,566.49 that was paid by Kobalt Music for digital distribution and publishing royalties. Similarly, he is accused of taking $118,652.23, an amount paid by Mtech Limited for music digital distribution. Both sums, according to the prosecution, were meant for Peter Okoye, but Jude Okoye reportedly diverted them for personal use.
The anti-graft agency argues that these acts amount to financial misappropriation and theft, breaching Sections 278 and 285 of the Criminal Laws of Lagos State, 2011. The EFCC is pursuing these charges to ensure justice is served and to address concerns regarding transparency in the music industry.
Meanwhile, another court, the Federal High Court in Ikoyi, Lagos, granted Jude Okoye bail set at N100 million on Monday. Justice Alexander Owoeye, who presided over the bail hearing, ruled that Okoye must provide two sureties in like sum.
One of the sureties must be the owner of landed property, while the other must be a business owner with a verifiable address. The judge also stated that both sureties must present an affidavit of means to demonstrate their financial capability. To ensure compliance, the property title documents and Bank Verification Number (BVN) of the sureties must be submitted to the court.
In addition to the bail conditions, Justice Owoeye ordered that Jude Okoye must remain in the country pending the hearing and determination of the charges against him. The court explicitly stated that he shall not be allowed to travel abroad while the case is ongoing.
Until his bail conditions are fully met, Okoye is to remain in custody at the Ikoyi Correctional Centre. The case has been adjourned until April 14, when the trial is expected to commence. This development highlights the seriousness of the charges against him and the stringent measures put in place to ensure he remains available for trial.
In a show of family support, Paul Okoye, popularly known as Rude Boy, was present in court during the proceedings. His presence underscored the significance of the case, given the long-standing partnership between the Okoye brothers in the music industry.
Jude Okoye had previously been arraigned on February 26, 2025, on allegations of money laundering involving a total of N1.38 billion, $1 million, and £34,537.59. His company, Northside Music Limited, was also named as a co-defendant in the case, with the EFCC filing seven counts against him and the company. These charges expand the scope of the case beyond just misappropriation of royalties to include alleged illicit financial transactions.
The EFCC claims that in 2022, Jude Okoye and Northside Music Limited directly acquired a high-value landed property located at No. 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos. The property was reportedly purchased for N850 million, and the prosecution asserts that the funds used in this transaction were derived from unlawful activities.
This acquisition is a central element of the money laundering charges, as the EFCC aims to establish that the funds used for this purchase were obtained through fraudulent means, specifically through the misappropriation of digital music royalties and other sources.
Further allegations by the EFCC indicate that Jude Okoye and his company engaged in complex financial transactions to conceal the illicit origin of funds. The commission alleges that Okoye used a Bureau De Change to convert $1,019,762.87, held in an Access Bank account operated by Northside Music Limited, into naira.
The converted funds were then transferred to various bank accounts, which, according to the EFCC, was a deliberate effort to obscure the source of the money and avoid detection by financial authorities. These actions, the prosecution argues, violate Section 18 (2)(a) of the Money Laundering Prevention and Prohibition Act and are punishable under Section 18 (3) of the same Act.
During the court proceedings, Jude Okoye pleaded not guilty to all the charges brought against him. His legal team is expected to challenge the allegations and provide a defense against the accusations of financial misconduct and money laundering.
As the case progresses, the court will examine the evidence presented by the EFCC to determine the validity of the claims. With the trial scheduled to begin on April 14, legal experts and industry stakeholders will be closely watching the case, as it could set a precedent for financial accountability in the Nigerian entertainment industry.
The outcome of the trial will not only affect Jude Okoye’s legal standing but could also impact the broader discussions on financial transparency in the music business.
