Jude Okoye, the former manager of the now-defunct music group P-Square, has been charged by the Economic and Financial Crimes Commission (EFCC) with theft involving over $1 million and £34,500.
The arraignment took place on Tuesday, March 4, at the Lagos State Special Offences Court in Ikeja.
Okoye, who is also facing a separate seven-count charge in the Federal High Court, was granted bail on Monday in the amount of N100 million, along with two sureties of the same sum.
The new charges, filed under case number Ref/99260/2025, allege that Okoye and his company, Northside Music Limited, improperly converted funds intended as music royalties for Peter Okoye.
EFCC prosecutor Mohammed Bashiru accused Okoye of misappropriating $767,544.15 received from Lex Records Limited for digital distribution and publishing royalties.
The indictment also claims he converted £34,537.59 from the same source, in addition to $133,566.49 from Kobalt Music and $118,652.23 from Mtech Limited, all occurring between 2016 and 2023.
“These payments were meant for music royalties, but the defendant dishonestly converted them for personal use, intending to permanently deprive Peter Okoye of his rightful interest in the funds,” Bashiru stated in court. The EFCC asserted that these offenses violate Sections 278 and 285 of the Criminal Laws of Lagos State, 2011.
Okoye pleaded not guilty to all charges. His attorney, Clement Onwuenwunor (SAN), informed the court that a bail application was submitted on February 27, 2025.
