Jude Okoye Arraigned for Alleged N1.38 Billion Fraud as Legal Battle Unfolds

The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, the elder brother and former manager of P-Square, on charges of money laundering involving N1.38 billion, $1 million, and £34,537.59.

According to reports from Channels TV, Okoye and his company, Northside Music Ltd, were brought before Justice Alexander Owoeye at the Federal High Court in Lagos on a seven-count charge related to financial crimes.

The EFCC alleges that in 2022, Okoye and Northside Music Ltd purchased a property worth N850 million at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, knowing—or having reason to suspect—that the funds used were proceeds of illegal activities.

Additionally, he is accused of converting $1,019,762.87 through a bureau de change and transferring the naira equivalent into various accounts to obscure the source of the funds, which the EFCC claims were obtained unlawfully.

The charges fall under the Money Laundering (Prevention and Prohibition) Act of 2022, carrying severe legal consequences if convicted.

During the court session, Okoye pleaded not guilty to all charges. The case is expected to proceed as further hearings unfold in the coming weeks.