EFCC Arraigns Jude Okoye Over $1 Million, £34,000 Theft Charges

The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, former manager of the defunct music group P-Square, on fresh charges of theft involving over $1 million and £34,000.

Okoye was brought before the Lagos State Special Offences Court in Ikeja on Tuesday, March 4. This comes as he also faces a separate seven-count charge at the Federal High Court, where he was granted bail on Monday in the sum of N100 million with two sureties in like sum.

According to case number Ref/99260/2025, Okoye and his company, Northside Music Limited, are accused of dishonestly converting funds meant as music royalties for Peter Okoye.

EFCC prosecutor Mohammed Bashiru alleged that Okoye misappropriated $767,544.15 paid by Lex Records Limited for digital distribution and publishing royalties. He is also accused 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 between 2016 and 2023.

“These payments were intended for music royalties, but the defendant dishonestly converted them for his personal use, intending to permanently deprive Peter Okoye of his rightful earnings,” Bashiru told the court.

The EFCC stated that the offences violate Sections 278 and 285 of the Criminal Laws of Lagos State, 2011.

Okoye pleaded not guilty to all charges. His lawyer, Clement Onwuenwunor (SAN), informed the court that a bail application had been filed on February 27, 2025.