The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, the elder brother and former manager of the defunct music duo P-Square, over alleged money laundering involving ₦1.38 billion, $1 million, and £34,537.59.
Okoye, alongside his company Northside Music Ltd, was brought before Justice Alexander Owoeye of the Federal High Court, Lagos, on a seven-count charge of acquiring and concealing illicit funds.
One of the charges alleged that he acquired a landed property worth ₦850 million at Parkview Estate, Ikoyi, knowing it was linked to proceeds of unlawful activity.
Another count accused him of using a bureau de change to convert over $1 million and remit the funds to multiple bank accounts.
Okoye pleaded not guilty to the charges.
Following his plea, the prosecution counsel, Larry Peters Aso, requested a trial date and asked that Okoye be remanded in a correctional facility pending trial.
However, defense counsel Inibehe Effiong urged the court to keep Okoye in EFCC custody until his bail application is heard. The prosecution objected, citing congestion at EFCC facilities.
Justice Owoeye adjourned the bail hearing to February 28 and the trial to April 14, ordering Okoye’s remand at the Ikoyi correctional facility.
