Nigerian Entertainment News: Jude Okoye Faces Court Over Alleged ₦1.38 Billion Money Laundering, Remanded in Ikoyi Prison
Jude Okoye, the former manager of the now-disbanded music group P-Square, has been brought before Justice Alexander Owoeye at the Federal High Court in Lagos.
He is facing a seven-count indictment linked to financial crimes involving ₦1.38 billion, $1 million, and £34,537.59.
EFCC’s Charges Against Jude Okoye
The Economic and Financial Crimes Commission (EFCC) has leveled accusations against Okoye and his company, Northside Music Ltd, alleging their involvement in illicit financial dealings, including the acquisition of high-value assets and money laundering through Bureau de Change operators.
One of the charges states:
“That you, Jude Okoye Chigozie, and Northside Music Ltd, at some point in 2022 in Lagos, within the jurisdiction of this Honourable Court, did directly purchase a landed property at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, valued at ₦850,000,000.00 (Eight hundred and fifty million naira), which you knew or ought to have known was acquired with proceeds of unlawful activities.”
Additionally, another allegation claims that Okoye used a Bureau de Change operator to convert $1,019,762.87 into naira and subsequently funneled the funds into multiple accounts to obscure the source of the money—an action that violates the Money Laundering (Prevention and Prohibition) Act of 2022.
Jude Okoye Denies Charges, Court Orders Detention
During his court appearance, Okoye pleaded “not guilty” to all accusations.
EFCC prosecutor Larry Peters Aso requested a trial date and urged the court to remand Okoye in a correctional facility while awaiting trial.
However, Okoye’s legal representative, Inibehe Effiong, filed for bail and asked that his client be kept in EFCC custody until the bail request is heard. The prosecution objected, arguing that EFCC detention centers are overcrowded and insisting that Okoye be placed in Ikoyi Prison instead.
Court’s Decision: Bail Hearing and Trial Date Set
After considering both arguments, Justice Owoeye ruled that:
✅ The bail hearing will take place on February 28.
✅ The trial is scheduled to begin on April 14.
✅ Jude Okoye will remain in Ikoyi Correctional Facility until the court decides on his bail request.
Stay tuned for more updates on this developing Nigerian Entertainment News story.
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