The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, the former manager of the defunct music duo P-Square, on fresh charges of theft involving over $1 million and £34,000.
The arraignment took place on Tuesday, March 4, at the Lagos State Special Offences Court in Ikeja. Okoye, who is also facing a separate seven-count charge before the Federal High Court, was granted bail on Monday in the sum of N100 million, with two sureties in like sum.
According to the EFCC’s latest charges, filed under case number Ref/99260/2025, Okoye and his company, Northside Music Limited, are accused of dishonestly converting funds meant for music royalties belonging to singer Peter Okoye.
Prosecutor Mohammed Bashiru alleged that Okoye misappropriated:
- $767,544.15 paid by Lex Records Limited for digital distribution and publishing royalties
- £34,537.59 from the same source
- $133,566.49 from Kobalt Music
- $118,652.23 from Mtech Limited
- These transactions reportedly took place between 2016 and 2023.
“These payments were meant for music royalties, but the defendant dishonestly converted them for his personal use, intending to permanently deprive Peter Okoye of his rightful earnings,” Bashiru told the court.
The EFCC stated that these offenses violate Sections 278 and 285 of the Criminal Laws of Lagos State, 2011. Okoye pleaded not guilty to all charges. His lawyer, Clement Onwuenwunor (SAN), informed the court that a bail application had already been filed on February 27, 2025.
