The Economic and Financial Crimes Commission (EFCC) has announced the arraignment of Jude Okoye, the former manager of the renowned music group P-Square, on charges of theft amounting to $1,019,763.87 and £34,537.59. The case will be heard at the Lagos State Special Offences Court, Ikeja, on Tuesday.
Jude Okoye, who is also the elder brother of P-Square duo Peter (Mr. P) and Paul (Rudeboy) Okoye, is accused of misappropriating funds meant for music digital distribution and publishing royalties between 2016 and 2023. According to the EFCC, Okoye dishonestly converted funds paid by Lex Records Limited, Kobalt Music, and Mtech Limited, which were intended for Peter Okoye's royalties.
The EFCC's four-count charge (Case No. Ref/99260/2025) cites violations of Sections 278 and 285 of the Lagos State Criminal Laws. The charges include the dishonest conversion of $767,544.15, £34,537.59, $133,566.49, and $118,652.23.
In a separate case, Jude Okoye was arraigned on February 26, 2025, before the Federal High Court in Lagos on seven counts of money laundering involving ₦1.38 billion, $1 million, and £34,537.59. The EFCC alleges that in 2022, Okoye used illicit funds to purchase a property worth ₦850 million in Parkview Estate, Ikoyi, Lagos, and engaged a Bureau De Change to convert $1,019,762.87 into naira to obscure the source of the funds.
Jude Okoye has pleaded not guilty to all charges. His legal team, led by Inibehe Effiong, applied for bail, which was granted by Justice Alexander Owoeye on Monday under the following conditions: a ₦100 million bail bond, two sureties (one must own landed property, and the other must be a business owner with a verifiable address), and the submission of property documents and Bank Verification Numbers (BVN) to the court. The judge also ordered that Okoye remain in custody until he meets his bail conditions and barred him from traveling abroad during the trial.