The Lagos State Special Offences Court in Ikeja has ordered the remand of Jude Okoye, the elder brother and former manager of Paul and Peter Okoye of the defunct music group P-Square, over an alleged theft of $1 million and £34,537.59.
Justice Rahman Oshodi directed that he be held at the Ikoyi Correctional Centre pending the hearing of his bail application, which has been scheduled for March 6.
The Economic and Financial Crimes Commission (EFCC) arraigned Jude Okoye and his company, Northside Music Ltd, on a four-count charge. One of the charges alleges that Jude dishonestly converted $767,544.15, paid by Lex Records Limited for music digital distribution and publishing royalties, for his personal use, thereby depriving his brother, Peter Okoye, of his rightful share.
The alleged offences were said to have occurred between 2016 and 2023.
Jude pleaded not guilty to the charges. The EFCC prosecutor, Mohammed Bashiru, requested a trial date and that the defendant be remanded, while the defence counsel, Clement Onwuenwunor (SAN), urged the court to grant bail, citing a pending application.
The court adjourned the case to allow the prosecution time to respond to the bail application.
Separately, Jude Okoye is also facing money laundering charges involving N1.38 billion, $1 million, and £34,537.59 before the Federal High Court in Lagos.
On March 3, the court granted him bail of N100 million with two sureties in like sum and adjourned the case to April 14 for trial.