The Economic and Financial Crimes Commission, (EFCC) has arraigned Jude Okoye Chigozie, who’s the elder brother and ex-manager of Paul and Peter Okoye of the defunct music group, P-Square, before Justice Alexander Owoeye of the Federal High Court sitting in Ikoyi, Lagos.
He was arraigned on Wednesday alongside his company, Northside Music Ltd, on a seven-count charge of allegedly laundering N1.38billion, $1million and £34,537.59.
He pleaded “not guilty” to the charges.
In view of his plea, the prosecution counsel, Larry Peters Aso, applied for a date for hearing as well as the defendant’s remand in a correctional facility pending trial.
But Mr Okoye’s counsel, Inibehe Effiong, informed the court of a bail application and asked for a short date to enable its hearing.
He also requested that the defendant be remanded in the EFCC custody pending the hearing of the application.
Mr Aso objected to the defendant’s remand in the EFCC custody. He argued that the EFCC custody was already congested with suspects awaiting arraignment. He urged the court to remand the defendant in the correctional facility since he had taken his plea.
Justice Owoeye adjourned the matter till February 28, 2025 for bail hearing and April 14, 2025 for trial, and ordered the defendant to be remanded in the Ikoyi correctional facility.
One of the count 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 count 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 convert 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 Lid to the naira equivalent and remitted into various bank accounts with intention of concealing that the said fund form 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.”
