The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned Jude Okoye, former manager of the defunct music duo P-Square, before the Lagos State Special Offences Court in Ikeja on allegations of misappropriating $1,019,763.87 and £34,537.59.
Jude Okoye, who is also facing a separate seven-count charge before Justice Alexander Owoeye at the Federal High Court, was granted bail on Monday in the sum of N100 million with two sureties.
In the new case, filed under reference Ref/99260/2025 before Justice Rahman Oshodi, Okoye and his company, Northside Music Limited, were charged with four counts by the EFCC.
During the proceedings, EFCC prosecutor Mohammed Bashiru alleged that Okoye dishonestly converted $767,544.15 received from Lex Records Ltd for music digital distribution and publishing royalties, depriving Peter Okoye of his rightful share.
The EFCC further accused Okoye of converting £34,537.59 from Lex Records Ltd, $133,566.49 from Kobalt Music, and $118,652.23 from Mtech Ltd—all intended for music royalties—with the intent of permanently depriving Peter Okoye of his financial interest.
The prosecution stated that the alleged offenses took place between 2016 and 2023, violating sections 278 and 285 of the Lagos State Criminal Laws of 2011.
Jude Okoye pleaded not guilty to the charges. Following his arraignment, his defense counsel informed the court of a bail application dated February 27, 2025.
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