On Tuesday, March 4, The Economic and Financial Crimes Commission (EFCC) arraigned Jude Okoye, the former manager of P-Square the now-defunct music group, over allegations of theft involving $1,019,763.87 and £34,537.59.
The charges, listed under Ref/99260/2025, were brought against Okoye and his company, Northside Music Limited. He is facing a four-count charge before Justice Rahman Oshodi at the Lagos State Special Offences Court in Ikeja.
During the proceedings, Prosecutor Mohammed Bashiru informed the court that Okoye, alongside his company, allegedly misappropriated $767,544.15 for his personal use.
The investigation revealed that the missing funds were originally intended for the group’s professional needs, and other essential business operations.
Jude Okoye was formally charged with theft and embezzlement, facing serious criminal charges that could have severe consequences for his career and personal life.
One of the charges states: “In 2016 and 2023, Jude Chigozie Okoye and Northside Music Ltd, within the jurisdiction of this Honourable Court in Lagos, dishonestly converted a total sum of $767,544.15 to their own use.
This sum was paid by Lex Records Limited as payment for music digital distribution/publishing royalties, with the intent to permanently deprive Peter Obunmuneme Okoye of his special interest in the property.”
The prosecutor further stated that Okoye dishonestly converted £34,537.59, $133,566.49, and $118,652.23, which were paid by Lex Records Limited, Kobalt Music, and Mtech Limited.
The alleged offenses, which occurred between 2016 and 2023, violate sections 278 and 285 of the Lagos State Criminal Laws 2011.
Jude has denied any wrongdoing. His defense team has argued that the accusations are unfounded and that any discrepancies in the finances were due to administrative errors.
They claim that Jude was not responsible for the missing funds and that he had always acted in the best interests of the Okoye brothers.
Justice Oshodi adjourned the bail hearing to March 6, 2025, and ordered Okoye’s continued remand at Ikoyi Correctional Centre.
The trial is set to begin on May 16 and 23, 2025.
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