Jude Okoye, the elder brother and former manager of the popular Nigerian music group P-Square, has been arraigned in court over alleged fraud involving a staggering N1.3 billion, $1 million, and £34,000.
The Allegations
Okoye was charged with seven counts of allegedly laundering the massive sum through his company, Northside Music Ltd. The Economic and Financial Crimes Commission (EFCC) alleged that Okoye acquired a landed property worth N850 million in Ikoyi, Lagos, using proceeds from an unlawful act.
The Court Ruling
Okoye pleaded not guilty to all charges, but his request for bail was denied. The prosecution counsel, Larry Peters Aso, argued that Okoye should be remanded in a correctional facility, citing the EFCC custody’s congestion. The judge, Justice Alexander Owoeye, ordered Okoye’s remand in the Ikoyi correctional facility until the next hearing on February 28.
