The Economic and Financial Crimes Commission (EFCC) has arraigned former manager of the defunct music group; P-Square, Jude Okoye on fresh charges of theft involving over $1 million and £34,000.
The arraignment took place on Tuesday, March 4, at the Lagos State Special Offences Court in Ikeja.
Okoye, who also faces a separate seven-count charge before the Federal High Court, was granted bail on Monday in the sum of N100 million naira with two sureties in like sum.
The latest charges, filed under case number Ref/99260/2025, accuse Okoye and his company, Northside Music Limited, of dishonestly converting funds intended as music royalties for Peter Okoye.
Furthermore, the EFCC prosecutor Mohammed Bashiru alleged that Okoye misappropriated $767,544.15 paid by Lex Records Limited for digital distribution and publishing royalties.
The prosecution further accused him of converting £34,537.59 from the same source, as well as $133,566.49 from Kobalt Music and $118,652.23 from Mtech Limited, all between 2016 and 2023.
“These payments were meant for music royalties, but the defendant dishonestly converted them for his personal use, with the intent to permanently deprive Peter Okoye of his special interest in the funds,” Bashiru told the court.
Furthermore, the EFCC stated that the offences violate Sections 278 and 285 of the Criminal Laws of Lagos State, 2011.
Also Read: Court Grants PSqaure’s Jude Okoye ₦100m Bail
Okoye pleaded not guilty to all charges. His counsel, Clement Onwuenwunor (SAN), informed the court that a bail application had been filed on February 27, 2025.
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