On Wednesday, February 26, 2025, Justice Alexander Owoeye of the Federal High Court of Lagos ordered Jude Okoye Chigozie, the brother and former manager of P-square, a custodial judicial duo of the Nigerian correctional services. Okoye faces allegations of money laundering of about $1.38 billion, $1 million and £34,537.59, raised by the Economic and Financial Crime Commission (EFCC).
Okoye, along with his company Northside Music Ltd, was sentenced to seven counts of money laundering, allegedly violating section 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act, and was punished under section 18(3). The EFCC claims that in 2022, Okoye bought a property on 5 Tony Eromosele Street in Ikoyi, Lagos, worth 950 million guilds, which he knew or should reasonably know was the proceeds of illegal activities.
Further allegations state that Okoye used Bureau de Change to convert $1,019,762.87 into Northside Music Ltd’s Access Bank Plc account and convert it into Naira equivalent. According to the EFCC, the funds were allegedly deposited into various bank accounts to cover up their illegal origins.
Before appearing Justice OwoeyeOkoye pleaded not guilty to all charges. After his request, EFCC sued Lawyers Limited ASO asked the court to set a trial date and remand Okoye to the correctional facility pending further litigation. In response, defense attorney Inibehe Effiong Notify the court of pending bail application, demand a prompt hearing date, and require Okoye to be held in EFCC custody until the bail matter is resolved.
ASO refuted this, believing that the EFCC’s detention center was crowded with suspects awaiting arraignment and urged the court to send Okoye back to the correctional center. Justice Owoeye supported the prosecution in a brief ruling ordering Okoye to be detained in the Ikoyi facility in the Nigerian correctional service.
The court detained the case until February 28, 2025, held a bail hearing, and the trial was scheduled to begin on April 14, 2025.
Okoye’s arraignment marks a significant development in legal review around former managers Paul and Peter Okoyeits music partnership is p square Once dominated the entertainment industry in Nigeria, they then spread widely. As the case unfolds, it hopes to shed light on financial transactions related to one of the country’s most prominent musical dynasties.
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