The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned Jude Okoye, former manager of the defunct music duo P-Square, over fresh allegations of theft involving $1,019,763.87 and £34,537.59. The case was brought before Justice Rahman Oshodi of the Lagos State Special Offences Court in Ikeja.
Okoye, who is also facing a separate seven-count charge before Justice Alexander Owoeye of the Federal High Court, was granted bail on Monday in the sum of N100 million, with two sureties in like sum.
In the new case, marked Ref/99260/2025, the EFCC has filed four counts against Okoye and his company, Northside Music Limited. When the case was called, EFCC’s counsel, Mohammed Bashiru, represented the prosecution, while Senior Advocate of Nigeria (SAN) Clement Onwuenwunor appeared for the defence.
Bashiru told the court that Okoye allegedly dishonestly converted $767,544.15, paid by Lex Records Limited as music digital distribution and publishing royalties, with the intent to deprive Peter Okoye of his rightful share. The alleged offences reportedly took place between 2016 and 2023.
The prosecution further accused Okoye of misappropriating £34,537.59 from Lex Records Limited, $133,566.49 from Kobalt Music, and $118,652.23 from Mtech Limited, all of which were meant for digital distribution and publishing royalties belonging to Peter Okoye.
According to the EFCC, the alleged offences violate Sections 278 and 285 of the Criminal Laws of Lagos State, 2011.
Okoye pleaded not guilty to all charges. Following his arraignment, his counsel informed the court of a bail application dated February 27, 2025.
