Jude Okoye remanded in custody over ₦1.38bn money laundering charges 

Jude Okoye, the former manager of the defunct music group P-Square, has been accused by the Economic and Financial Crimes Commission (EFCC) of laundering over ₦1.38 billion, $1 million, and £34,537.59 through illegal financial transactions.

He was arraigned before Justice Alexander Owoeye of the Federal High Court in Lagos on Wednesday alongside his company, Northside Music Ltd. The EFCC accused him of engaging in financial crimes, including the illegal conversion of over $1 million through a bureau de change and transferring the funds into multiple bank accounts to hide their source.

According to the prosecution, Okoye allegedly acquired a property valued at ₦850 million, which he knew or should have known was purchased using money linked to unlawful activities. The anti-graft agency claimed these transactions were part of efforts to conceal the origins of illicit funds.

Okoye pleaded not guilty to the seven-count charge. His legal team requested that he remain in EFCC custody instead of being remanded in prison, but the judge denied the request. Justice Owoeye ordered Okoye to be held at the Ikoyi Correctional Facility and set February 28 for the bail hearing, with the trial scheduled to begin on April 14.

The case has sparked public interest due to Okoye’s close ties to P-Square, one of Nigeria’s most successful music groups. Many fans and industry insiders are closely following the developments, waiting to see how the trial unfolds.