Jude Okoye, the elder brother and former manager of the defunct music group P-Square, has been remanded in prison following his arraignment on fresh charges of $1,019,763.87 and £34,537.59 fraud.
On Monday, the Economic and Financial Crimes Commission (EFCC) filed a fresh four-count charge, alleging that Okoye “dishonestly converted” funds received as music proceeds from three companies for his personal use.
According to the charges, Okoye’s actions were intended to permanently deprive his brother, Peter ‘Mr. P’ Okoye, of his rightful benefits from the payments.
The charges, dated January 27, 2025, specifically state that Okoye and his company, Northside Music Limited, converted the following amounts:
“$767,544.15 paid by Lex Records Limited as payment for music digital distribution/publishing royalties.”
“£34,537.59 paid by Lex Records Limited as payment for music digital distribution/publishing royalties.”
“$133,566.49 paid by Kobalt Music Services Limited as payment for music digital distribution/publishing royalties.”
“$118,652.23 paid by Mech Limited as payment for music digital distribution/publishing royalties.”
The EFCC alleged that Okoye’s actions violate sections 278 and 285 of the Criminal Law of Lagos State of 2011.
On Tuesday, Okoye appeared before Ramon Oshodi, a justice of the Ikeja High Court, where he pleaded “not guilty” to the charges.
Clement Onwuenwunor, Okoye’s defence counsel, informed the court that his client already has a similar case ongoing at the Ikoyi court, where he was granted bail. He argued that the dispute is a family matter involving the Psquare brothers and that Okoye, a prominent entertainer, would not jump bail.
However, MK Bashiru, the EFCC prosecuting counsel, opposed the bail request, stating he had yet to file a response to the application.
In his ruling, Justice Oshodi said he could not “hastily grant the bail application” without reviewing all the filings. He directed the prosecution to file its response before the next hearing on March 6. The trial was scheduled to commence on May 16 and 23.
Okoye’s latest legal trouble comes barely a day after he was granted N100 million bail on separate fraud charges.
Last week, he was arraigned by the EFCC on allegations of laundering N1.38 billion, $1 million, and £34,537.59. He pleaded “not guilty” and was remanded at the Ikoyi Correctional Facility by Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos.
ORIGIN OF CONTROVERSY
The controversy traces back to 2017, following the fallout between the Psquare twins — Paul and Peter Okoye — which led to the group’s split and their pursuit of solo careers. The brothers’ feud was reportedly sparked by disagreements over Jude’s role as their manager.
Although they reconciled in November 2021, their reunion was short-lived.
In August 2024, Paul accused Peter of orchestrating his arrest by the EFCC — an allegation Peter denied, claiming Jude had diverted millions of dollars from their joint account into a secret company.
Peter said he had no choice but to involve the anti-graft agency after Paul allegedly told him to “do your worst” during their last conversation.
Responding to the allegations, Jude insisted he had sacrificed himself in efforts to mend the rift between his brothers.