Jude Okoye, former manager of the now-defunct music duo P-Square, has been arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of money laundering involving N1.38 billion, $1 million, and £34,537.59.
According to Channels TV, the case, which also implicates his company, Northside Music Ltd., was brought before the court in a seven-count charge.
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Okoye pleaded “not guilty” to the allegations. However, Justice Alexander Owoeye ordered that he be remanded at the Ikoyi correctional facility pending further proceedings. The bail hearing is set for February 28, while the trial is scheduled to begin on April 14.
The EFCC alleges that Okoye engaged in financial transactions intended to disguise the origins of illicit funds. One of the accusations states that he used a bureau de change to convert $1,019,762.87 into naira and distributed it across multiple bank accounts to obscure its source.
Additionally, he is accused of acquiring property worth N850 million, despite allegedly knowing—or having reason to suspect—that the funds used for the purchase were linked to unlawful activities.
Showing support for his brother, after the arrest, Paul Okoye a.k.a Rudeboy wrote on his Instagram story; “This too shall pass. Stay strong brother.”
