The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye Chigozie, former manager of the defunct P-Square music group, over alleged money laundering amounting to N1.38 billion, $1 million, and £34,537.59.
Okoye, who is the older brother of Paul and Peter Okoye, was brought before Justice A.O. Owoeye of the Federal High Court in Ikoyi, Lagos, on Wednesday.
He was arraigned alongside his company, Northside Music Limited, on a seven-count charge relating to financial crimes.
According to the EFCC, Okoye allegedly acquired a property worth N850 million in Parkview Estate, Ikoyi, Lagos, in 2022, using funds suspected to be proceeds of an unlawful act.
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Another charge accuses him of using a bureau de change to convert $1,019,762.87 into naira, and distributing it across various accounts to conceal its source.
Okoye pleaded not guilty to all charges.
The prosecution, led by L.P. Aso, requested a trial date and urged the court to remand the defendant in a correctional facility.
However, the defense counsel, Inibehe Effiong, sought bail for his client and requested that he remain in EFCC custody until the bail hearing.
The prosecution opposed this request, citing congestion in EFCC’s detention facility.
Justice Owoeye ordered Okoye’s remand at the Ikoyi Correctional Centre, and adjourned the bail hearing to February 28, 2025, with the trial set to commence on April 14, 2025.
