The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye Chigozie, the elder brother and former manager of Paul and Peter Okoye of the defunct music group, P-Square, before the Federal High Court in Ikoyi, Lagos.

Jude Okoye was arraigned on Wednesday, February 26, alongside his company, Northside Music Ltd, on a seven-count charge to which he pleaded “not guilty”.

He was accused of allegedly laundering N1.38 billion, $1million and £34,537.59. Appearing before Justice Alexander Owoeye, the prosecution counsel, Larry Peters applied for a date for hearing as well as the defendant’s remand in a correctional facility pending trial.

However, Jude Okoye’s lawyer, Inibehe Effiong, requested a bail application and asked for a short date to enable its hearing. He also requested that the defendant be remanded in the EFCC custody pending the hearing of the application.

The prosecution counsel opposed Jude Okoye's remand in the EFCC custody, arguing that the EFCC custody was already congested with suspects awaiting arraignment, adding that the defendant has taken his plea.

Justice Owoeye adjourned the case till February 28, 2025, for bail hearing and April 14, 2025, for trial, and ordered Jude to be remanded in the Ikoyi correctional facility.

One of the counts reads: “That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos worth N850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of an unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Another count reads: “That you, Jude Okoye Chigozie and Northside Music Ltd. sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly use a bureau de change to convert the sum of $1,019,762.87 (One million nineteen thousand, seven hundred and sixty-two dollars eighty-seven cents), domiciled in Access Bank Plc operated by Northside Music Ltd to the naira equivalent and remitted into various bank accounts with the intention of concealing that the said fund form part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”