EFCC Arraigns Jude Okoye for Money Laundering

The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye Chigozie, the elder brother and former manager of Paul and Peter Okoye of the defunct P-Square music group, on charges of money laundering.

Okoye was brought before Justice A.O. Owoeye at the Federal High Court in Ikoyi, Lagos, alongside his company, Northside Music Ltd. The EFCC accused him of laundering N1.38 billion, $1 million, and £34,537.59 through various transactions in 2022.

One of the charges alleges that Okoye used N850 million to purchase a property in Ikoyi, Lagos, knowing it was linked to unlawful activities. Another charge states that he converted over $1 million through a bureau de change to conceal its illegal origin.

Okoye pleaded not guilty. His lawyer, Inibehe Effiong, applied for bail and requested that he remain in EFCC custody until the hearing. However, the prosecution opposed this, citing overcrowding in EFCC facilities and insisting he be sent to a correctional center.

Justice Owoeye ruled that Okoye be remanded in Ikoyi Correctional Centre. The court set February 28, 2025, for the bail hearing and April 14, 2025, for trial.