The Lagos Zonal Directorate of the Economic and
Financial Crimes Commission, EFCC, on Wednesday, February 26, 2025, arraigned
Jude Okoye Chigozie, older brother and ex-manager of Paul and Peter
Okoye of the defunct P-Square music group, before Justice A.O. Owoeye of
the Federal High Court, sitting in Ikoyi, Lagos.
He was arraigned alongside his company, Northside Music Ltd, on a seven-count
charge bordering on money laundering to the tune of N1.38billion, $1million and
£34,537.59.
One of the charges reads: “That you, Jude Okoye Chigozie and Northside Music
Ltd sometimes in 2022, in Lagos, within the jurisdiction of this Honourable
Court, did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth N850,000,000.00 (Eight hundred and fifty million naira) only, which
money you knew or reasonably ought to have known forms part of proceeds of
unlawful act and thereby committed an offence contrary to Section 18 (2) (d)
and punishable under Section 18 (3) of the Money Laundering (Prevention and
Prohibition) Act, 2022."
Another charge reads: “That you, Jude Okoye Chigozie and Northside Music Ltd
sometimes in 2022, in Lagos, within the jurisdiction of this Honourable Court,
did indirectly using bureau de change, converted the sum of
$1,019,762.87 (One million nineteen thousand, seven hundred and six-two dollars
eighty seven cents), domiciled in Access Bank Plc operated by Northside Music
Ltd to the naira equivalent and remitted into various bank accounts with
intention of concealing that the said fund formed part of the proceeds of
an unlawful act and thereby committed an offence contrary to Section 18 (2)(a)
and punishable under Section 18 (3) of the Money Laundering (Prevention and
Prohibition) Act, 2022."
He pleaded “not guilty” to the charges, following which prosecution counsel,
L.P. Aso, applied for a trial date and for Okoye to be remanded
in a correctional facility.
The defence counsel, Inibehe Effiong, however, informed the court
of Okoye’s bail application and prayed for a short date of
adjournment to enable its hearing. The defence counsel also
prayed that the defendant be rather remanded in the EFCC custody
pending the hearing of the bail application.
Objecting to the prayer for the defendant to be remanded in
EFCC’s custody, the prosecution counsel argued that the
Commission’s holding facility was already congested with suspects awaiting
arraignment and that the court should remand the defendant in the
correctional facility since he has taken his plea.
Justice Owoeye adjourned the matter till February 28, 2025 for the
hearing of the bail application and April 14, 2025 for trial, and
ordered that the defendant be remanded in Ikoyi Correctional Centre.
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