The Economic and Financial Crime Commission (EFCC) has filed new charges against Jude Okoye, former manager of the late music duo P-square, involving theft involving more than $1 million and £34,000.
Okoye made a appearance in the Lagos State Special Crime Court in Ikeja on Tuesday, March 4, with the EFCC accusing him and his company Northside Music Limited of dishonestly transferring funds for singer Peter Okoye.
According to EFCC Attorney Mohammed Bashiru, Okoye allegedly abused $767,544.15 for royalties by Lex Records Limited for digital distribution and publishing royalties. He was also accused of converting £34,537.59 from the same source, $133,566.49 from Kobalt Music, and $118,652.23 from Kobalt Music between 2016 and 2023.
“These payments were for music royalties, but the defendant dishonestly converted it to his personal use, depriving Peter Okoye of his legal income,” Bashiru said in court. The EFCC insisted that the crime violated Articles 278 and 285 of the 2011 Lagos State Criminal Code.
This was the second day after Okoye was granted bail on seven separate charges by the Federal High Court. The court set the bail at 100 million guilds and requires two guarantors of the same amount.
Okoye pleaded not guilty to the new charges and his attorney, Clement Onwuenwunor (SAN), confirmed that he had filed a bail application on February 27, 2025. The court will rule the next step in the legal process.
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