The Economic and Financial Crimes Commission will on Tuesday arraign the elder brother of Peter Okoye (Alias Mr P) and Paul Okoye (Alias Rudeboy), Jude Okoye, the former manager of the hip-hop artistes, of the defunct music group, P-Square, on fresh charges of $1,019,763.87 and £34,537.59, theft before the Lagos State Special Offences Court in Ikeja over alleged $1,019,763.87 and £34,537.59 theft.

The EFCC filed the four counts before Justice Rahman Oshodi.

The arraignment initially slated for Monday could not go on as the Ikoyi Correctional Centre had not received any information for his arraignment at Ikeja.

In the charge marked Ref/99260/2025, the EFCC accused OKoye of dishonestly converting the sum of $767,544.15, to his own use, the alleged sum which was paid Lex Records Limited as payment for music digital distribution/publishing royalties with intent to permanently deprive Peter Okoye his special interest in the property.

He was also accused of having some time, between 2016 and 2023, dishonestly converted the sum of £34,537.59, paid by Lex Records Limited as payment for music digital distribution/publishing royalties with the intent to permanently deprive Peter Okoye of his special interest in the property.

The anti-graft agency alleged that P-Square’s ex-manager dishonestly converted the sum of $133,566.49, which sum paid by Kobalt Music digital distribution /publishing royalties with the intent to permanently deprive Peter Okoye of his special interest in the property.

The anti-graft agency said the defendant dishonestly converted the sum of $118,652.23, paid by Mtech limited as payment for music digital distribution publishing royalties with intent to permanently deprive the music artiste of his special interest.

According to the EFCC, the offences committed contravened Sections 278 and 285 of the Criminal Laws of Lagos State 2011.

Earlier, the Federal High Court in Lagos on Monday granted N100m bail to Jude Okoye, the former manager of the hip-hop artistes, the defunct music group, P-square.

Justice Alexander Owoeye granted him bail with two sureties in like sum.

Okoye was arraigned on February 26, 2025, before the court on the alleged crime of money laundering involving N1.38bn, $1m, and £34,537.59.

He was arraigned alongside his company, Northside Music Limited, on seven counts preferred against him by the EFCC.

The commission told the court that the defendant alongside his Northside Music Limited sometime in 2022, in Lagos, directly acquired a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth N850,000,000, the money he knew or reasonably ought to have known formed part of proceeds of unlawful activities.

The anti-graft agency also alleged that Okoye and his company, in 2022, used a Bureau De Change to convert $1,019,762.87, held in an Access Bank account operated by Northside Music Ltd, into naira and transferred the funds into various bank accounts to conceal the illicit origin of the money.

According to the EFCC, the offences committed contravened Sections 18 (2)(a) and are punishable under Section 18 (3) of the same Act.



https://punchng.com/p-squares-ex-manager-to-be-tried-for-suspected-1m-34000-theft/