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The EFCC will on Tuesday arraign Jude Okoye, the elder brother and manager of Peter Okoye (Alias Mr P) and Paul Okoye ( Alias Rudeboy), Jude Okoye, on fresh charges of $1,019,763.87 and £34,537.59 theft, before the Lagos State Special Offences Court in Ikeja.
The EFCC filed the four counts before Justice Rahman Oshodi.
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PREMIUM TIMES reported how Jude was remanded in court and how Rudeboy alleged that his twin brother, Peter (Mr P), filed a petition with EFCC accusing Rudeboy and their elder brother Jude of financial mismanagement and was behind Jude’s ordeal.
Initially slated for Monday, the arraignment could not proceed as the Ikoyi Correctional Centre had not received any information for his arraignment at Ikeja.
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In the charge marked Ref/99260/2025, the EFCC accused Jude of dishonestly converting $767,544.15 to his use, the alleged sum which was paid to Lex Records Limited as payment for music digital distribution/publishing royalties with intent to permanently deprive Peter Okoye of his special interest in the property.
He was also accused of having some time between 2016 and 2023, dishonestly converted the sum of £34,537.59, paid by Lex Records limited as payment for music digital distribution/ publishing royalties with intent to permanently deprive Peter Okoye of his special interest in the property.
More allegations
The commission alleged that P—Square’s ex-manager dishonestly converted $133,566.49, which was paid by Kobalt Music digital distribution/publishing royalties, to permanently deprive Peter Okoye of his special interest in the property.
The anti-graft agency said the defendant dishonestly converted $118,652.23, paid by Mtech Limited, into payment for music digital distribution publishing royalties with the intent to permanently deprive Peter Okoye of his special interest.
According to EFCC, the offences committed contravened sections 278 and 285 of the criminal laws of Lagos State 2011.
Earlier, the Federal High Court in Lagos on Monday granted him N100m bail
Justice Alexander Owoeye granted him bail with two sureties in like sum.
Jude was arraigned on 26 February 2025 before the court by the Economic and Financial Crimes Commission on an alleged crime of money laundering involving N1.38bn, $1m, and £34,537.59.
He was arraigned alongside his company, Northside Music Limited, on seven counts preferred against him by EFCC.
The Commission told the court that the defendant, alongside his Northside Music Limited sometime in 2022, in Lagos, directly acquired a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos, worth N850,000,000. (Eight hundred and fifty million naira)the money he knew or reasonably ought to have known forms part of the proceeds of unlawful activities.
The anti-graft agency also alleged that Jude and his company, in 2022, used a Bureau De Change to convert $1,019,762.87, held in an Access Bank account operated by Northside Music Ltd, into naira and transferred the funds into various bank accounts to conceal the illicit origin of the money.
According to EFCC, the offences committed contravened Sections 18 (2)(a) and are punishable under Section 18 (3) of the same Act.
Jude pleaded not guilty to all the counts.
Bail application
However, Jude’s lawyer, Inibehe Effiong, informed the court of a pending bail application and requested a short hearing date. The court then adjourned until Friday to hear the bail application.
On Friday, when the matter came up, the prosecution and the defence counsel argued the bail application.
Mr Owoeye, after taking arguments from both lawyers, adjourned the matter till Monday for a ruling on the bail application.
When the matter was called on Monday for a ruling, the defendant’s counsel, Arome Mathew, announced his appearance and told the court it was for a ruling on the pending application.
He said, ” We have argued the bail application dated February 25 and filed it on February 26, 2025.”
Fanne Anum also announced his appearance for the prosecution.
Mr Owoeye, in his ruling, granted the defendant bail in the sum of N100m, with two sureties in a similar sum.
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