Jude Okoye Remanded In Prison As EFCC Files Fresh Charges Of ‘$1m, £34,000 Fraud’

Jude Okoye, the older brother and former manager of the now-disbanded music duo P-Square, has been remanded in prison following fresh fraud charges involving $1,019,763.87 and £34,537.59.

The Economic and Financial Crimes Commission (EFCC) filed a new four-count charge against Jude Okoye on Monday, accusing him of misappropriating music royalties from three companies.

The EFCC alleges that he diverted these funds for personal use, depriving his brother, Peter Okoye (Mr. P), of his rightful earnings.

According to court documents dated January 27, 2025, Okoye and his company, Northside Music Limited, allegedly misused:

“$767,544.15 paid by Lex Records Limited as payment for music digital distribution/publishing royalties. £34,537.59 paid by Lex Records Limited as payment for music digital distribution/publishing royalties.

“$133,566.49 paid by Kobalt Music Services Limited as payment for music digital distribution/publishing royalties.

“$118,652.23 paid by Mech Limited as payment for music digital distribution/publishing royalties.”

The EFCC claims these actions violate sections 278 and 285 of the Lagos State criminal law.

On Tuesday, Jude Okoye appeared before Justice Ramon Oshodi at the Ikeja High Court and pleaded “not guilty.”

His lawyer, Clement Onwuenwunor, argued that a similar case is already ongoing at an Ikoyi court, where Okoye was previously granted bail.

He urged the court to grant bail again, emphasizing that Okoye is a well-known entertainer unlikely to flee.

However, the prosecution, led by MK Bashiru, objected, stating that they had not yet filed a response to the bail request.

Justice Oshodi declined to grant immediate bail, stating he needed more information before making a decision.

The judge instructed the prosecution to file its response before the next hearing on March 6. The trial is set for May 16 and 23.

This comes after Jude Okoye was granted N100m bail after his previous arraignment last week, where he faced charges of laundering N1.38 billion, $1 million, and £34,537.59.