The Economic and Financial Crimes Commission (EFCC) is set to arraign Jude Okoye, the elder brother and former manager of Paul and Peter Okoye from the now-defunct music group P-Square, on Tuesday. He faces charges related to the theft of $1 million and £34,537.59, with the case being heard before the Lagos State Special Offences Court in Ikeja.
Justice Rahman Oshodi will preside over the four-count charge filed by the EFCC Prosecutor, Aso Larry Peters, on January 27th, 2025.
Jude Okoye’s arraignment was initially scheduled for Monday, March 3rd, but was postponed due to his absence. The Ikoyi Correctional Centre, where he was remanded, stated that it had not received any instructions regarding his court appearance.
In the charges, the EFCC accuses Okoye of unlawfully converting $767,544.15, which was paid to Lex Records Limited as payment for music digital distribution/publishing royalties. The EFCC claims that Okoye intended to permanently deprive Peter Okoye of his special interest in the asset.
Additionally, Okoye is accused of dishonestly converting £34,537.59, paid by Lex Records Limited between 2016 and 2023 for music royalties, with the intent to deprive Peter Okoye of his share.
The EFCC also alleges that Okoye converted $133,566.49, paid by Kobalt Music for digital distribution/publishing royalties, and $118,652.23, paid by Mtech Limited for the same purpose, both with the intent to permanently deprive Peter Okoye of his interest.
The alleged offenses, which occurred between 2016 and 2023, contravene sections 278 and 285 of the Criminal Laws of Lagos State 2011.
In another development, the Federal High Court in Ikoyi, Lagos, granted Jude Okoye a N100 million bail on Monday. Justice Alexander Owoeye approved the bail with two sureties in like sum, stating that one must own property, and the other must be a business owner with a verifiable address. Both sureties must provide an affidavit of means.
The court also required the submission of property titles and Bank Verification Numbers (BVNs). Okoye is prohibited from traveling abroad pending the resolution of the charges and is to remain at the Ikoyi Correctional Centre until bail conditions are met. The case was adjourned to April 14th for trial.
During the court proceedings, Paul Okoye, now known as Rude Boy, attended to support his brother.
Jude Okoye had previously been arraigned on February 26, 2025, by the EFCC on charges of money laundering involving N1.38 billion, $1 million, and £34,537.59. He was charged alongside his company, Northside Music Limited, with seven counts. The EFCC claims that in 2022, Okoye and his company unlawfully acquired a property in Lagos worth N850 million, using funds they knew or should have known were proceeds of illegal activities.
Additionally, the EFCC alleges that Okoye and Northside Music Limited used a Bureau De Change to convert $1,019,762.87 from an Access Bank account into naira, transferring the funds to various accounts to conceal their illicit origin. These actions are said to contravene the Money Laundering Prevention and Prohibition Act. Okoye has pleaded not guilty to all charges.
