Jude Okoye, the elder brother and former manager of the defunct music group P-Square, has been remanded in prison following his arraignment on new fraud charges totaling $1,019,763.87 and £34,537.59.
On Monday, the Economic and Financial Crimes Commission (EFCC) filed a four-count charge against Okoye, accusing him of dishonestly converting music proceeds from three companies for personal use, which deprived his brother, Peter ‘Mr. P’ Okoye, of his rightful earnings.
During his appearance before Justice Ramon Oshodi at the Ikeja High Court on Tuesday, Okoye pleaded “not guilty” to the charges. His defense attorney, Clement Onwuenwunor, requested bail, referring to an ongoing related case at the Ikoyi court, where Okoye had already been granted bail.
However, prosecuting counsel MK Bashiru opposed the bail application, stating that he had yet to file a formal response. Justice Oshodi ruled that he could not “hastily grant the bail application” without reviewing the necessary documents. The prosecution was directed to submit a response before the next hearing on March 6. Meanwhile, the trial is scheduled for May 16 and 23.
This latest legal issue arises just a day after Okoye was granted bail of N100 million for separate alleged fraud charges involving the laundering of N1.38 billion, $1 million, and £34,537.59.