Jude Okoye, former manager and elder brother of P-Square’s Paul and Peter Okoye, has been remanded in the Ikoyi Correctional Facility following his arraignment on charges of money laundering amounting to ₦1.38 billion, $1 million, and £34,537.59.
The Economic and Financial Crimes Commission (EFCC) brought the charges against Okoye and his company, Northside Music Ltd, before Justice Alexander Owoeye at the Federal High Court in Lagos. The seven-count indictment includes allegations of acquiring property worth ₦850 million and converting over $1 million through a bureau de change to obscure the origin of funds linked to unlawful activities.
Okoye pleaded not guilty to the charges. His defense counsel, Inibehe Effiong, filed a bail application, requesting that he remain in EFCC custody until the hearing. However, the prosecution counsel, Larry Peters Aso, opposed this request, citing overcrowding in EFCC detention facilities and urging the court to remand him in a correctional center.
Justice Owoeye ruled that Okoye be held at the Ikoyi Correctional Facility, scheduling February 28 for the bail hearing and April 14 for the commencement of trial.
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