Jude Okoye Remanded in Prison Over Fresh Fraud Charges

Jude Okoye, the elder brother and former manager of the defunct music duo P-Square, has been remanded in prison after being arraigned on fresh fraud charges. The charges, which were filed by the Economic and Financial Crimes Commission (EFCC), involve the alleged dishonest conversion of funds amounting to $1,019,763.87 and £34,537.59.

Okoye, who is accused of diverting music proceeds from three companies for personal use, appeared before Justice Ramon Oshodi at the Ikeja High Court on Tuesday. The EFCC claims that Okoye’s actions deprived his brother, Peter ‘Mr. P’ Okoye, of his rightful earnings. When given the chance to respond to the charges, Okoye pleaded “not guilty.”

During the court session, Okoye’s defense counsel, Clement Onwuenwunor, applied for bail, citing a related case currently being handled at the Ikoyi Court, where Okoye had previously been granted bail. However, the prosecution, represented by MK Bashiru, opposed the application, stating that they had yet to file a formal response.

Justice Oshodi, after considering the matter, ruled that he could not grant bail “hastily” without reviewing the required documents. The prosecution was directed to submit their response ahead of the next hearing scheduled for March 6, while the trial is set for May 16 and 23.

This case comes just one day after Okoye was granted N100 million bail over separate alleged fraud charges. Those charges involve the laundering of N1.38 billion, $1 million, and £34,537.59. The legal troubles surrounding Okoye continue to unfold, raising questions about the financial dealings within the Okoye family’s business empire.