Justice Rahman Oshodi of the Special Offences Court in Ikeja on Tuesday ordered the remand of Jude Okoye, former manager of music duo P-Square, at the Ikoyi Correctional Centre pending the hearing of his bail application over alleged theft of $1 million and £34,000.
The judge gave the order after Okoye took his plea.
Okoye and his company, Northside Music Limited, were arraigned on four counts of stealing and conversion of digital distribution and publishing royalties.
During the arraignment, Economic and Financial Crimes Commission (EFCC) prosecutor Mohammed Bashiru told the court that Okoye and his company allegedly misappropriated $1,019,763.87 and £34,537.59 between 2016 and 2023.
According to the EFCC, Okoye dishonestly converted $767,544.15 – paid by Lex Records Limited as digital distribution royalties – with the intent to permanently deprive Peter Okoye of his rightful share. He was also accused of diverting £34,537.59 from the same company.
Further allegations include $133,566.49, paid by Kobalt Music for digital publishing royalties, $118,652.23, paid by Mtech Limited for music distribution.
The EFCC stated these actions violated Sections 278 and 285 of the Lagos State Criminal Laws, 2011.
Okoye pleaded not guilty, and the prosecution requested a trial date, noting that 10 out of 29 EFCC witnesses would testify.
Defense counsel Clement Onwuenwunor (SAN), informed the court that a bail application had been filed on February 27, 2025, and served to the prosecution on February 28.
He also argued that Okoye had been granted bail in a similar case at the Federal High Court and should be allowed to continue enjoying that bail.
“Jude Okoye is a well-known entertainer and part of the P-Square group. He has cooperated with the EFCC for two years and never violated his administrative bail,” Onwuenwunor stated.
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. Okoye is also facing a separate seven-count charge before Justice Alexander Owoeye of the Federal High Court, where he was recently granted bail for N100 million with two sureties.
Wale Igbintade
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