By 
The Lagos State Special Offences Court, has remanded Jude Okoye, the former manager of hip-hop duo P-square at a correctional facility, after the Economic and Financial Crimes Commission (EFCC) accused him of diverting $1,019,763.87 and £34,537.59 for his personal use.
This was revealed during a court ruling by Justice Rahman Oshodi, on Tuesday, March 4.
Jude had earlier been arraigned before Justice Alexander Owoeye, on Monday, March 3.
Justice Owoeye granted him bail in the amount of N100 million, with two sureties in a similar sum.
However, the EFCC have levelled fresh charges against him on Tuesday, March 4.
In the new charges, marked Ref/99260/2025, Jude Okoye and his company, Northside Music Limited, are facing four counts brought against them by the EFCC before Justice Rahman Oshodi.
When the case was called, EFCC’s prosecuting counsel, Mohammed Bashiru, announced his appearance, while defence counsel, Clement Onwuenwunor, a senior advocate of Nigeria (SAN), appeared for both defendants.
Prosecutor Mohammed Bashiru informed the court that Jude Okoye and his company, Northside Music Limited, fraudulently converted $767,544.15 for their personal use.
The amount was paid by Lex Records Limited as payment for digital distribution and publishing royalties, with the intent to permanently deprive Peter Okoye of his rightful interest in the property.
Bashiru stated that the offences took place between 2016 and 2023.
The prosecutor also accused Jude Okoye of unlawfully converting £34,537.59, which was paid by Lex Records Limited as payment for music digital distribution and publishing royalties, with the intention of permanently depriving Peter Okoye of his rightful interest in the property.
The EFCC further stated that P-Square’s former manager dishonestly converted $133,566.49, paid by Kobalt Music for digital distribution and publishing royalties, with the same intent to deprive Peter Okoye of his interest in the property.
The anti-graft agency also claimed that Jude Okoye unlawfully converted $118,652.23, paid by Mtech Limited as payment for music digital distribution and publishing royalties, with the intent to permanently deprive Peter Okoye of his special interest in the property.
According to the EFCC, these actions violated sections 278 and 285 of the criminal laws of Lagos State, 2011.
The defendant, however, pleaded not guilty to the charges brought against him.
Clement Onwuenwunor, the defense lawyer, informed the court that Okoye has a similar case ongoing at the Ikoyi court, where he has already been granted bail.
He argued that the matter involves a dispute between Okoye and his Psquare brothers, emphasizing that his client is a well-known entertainer who would not flee while on bail.
The lawyer requested the court to grant bail to Okoye pending the commencement of his trial.
However, MK Bashiru, the prosecuting lawyer, opposed the request, stating that he has not yet filed a response to the bail application.
In his ruling, Judge Oshodi stated that he could not hastily grant the bail application as he needed to review the full filing.
The judge instructed the prosecuting counsel to file a response to the bail application ahead of the hearing scheduled for Thursday, March 6.
He also set Friday, May 16 and Friday, May 23 as the dates for the trial.
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