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An Ikeja Special Offences Court on Tuesday placed former P-Square manager Jude Okoye in custody for allegedly misappropriating one million dollars and 34,537 pounds.
Jude, who is the older brother of Peter Okoye (Mr P) and Paul Okoye (Rudeboy), was brought to court alongside his company, Northside Music Limited, on four counts of theft. The defendant, however, entered a plea of not guilty.
Justice Rahman Oshodi ordered Okoye to be remanded at Ikoyi Custodial Centre while awaiting the hearing of his bail application. The case was adjourned until March 6 for the bail application hearing.
EFCC Counsel, Mohammed Bashir, had previously requested a trial date and asked for the defendant to remain at the correctional centre.
The defendant's lead counsel, Clement Onwuenwunor, informed the court of a bail application dated January 27 and urged the court to grant bail to his client.
Bashir also informed the court that the prosecution aimed to respond to the application and requested a short adjournment to file the counter affidavit.
In the charge marked Ref/99260/2025, the EFCC alleged that Jude unlawfully converted 767,544 dollars for his personal use, claiming it was paid to Lex Records Ltd for digital distribution/publishing royalties with the intent to permanently deprive the complainant, Peter Okoye, of his special interest in the property.
The anti-graft agency further accused the defendant of dishonestly converting 34,537 pounds from Lex Records Ltd for music digital distribution/publishing royalties during the period from 2016 to 2023, also with the intent to permanently deprive Okoye of his special interest.
The EFCC alleged that the former manager misappropriated 133,566 dollars from Kobalt Music for digital distribution/publishing royalties with the same intent.
Additionally, it was claimed that he unlawfully converted 118,652 dollars from Mtech Limited for music digital distribution and publishing royalties, intending to permanently deprive Okoye of his special interest.
According to the EFCC, these alleged offenses breach Sections 278 and 285 of the Criminal Laws of Lagos State, 2011.
