EFCC Arraigns Jude Okoye Over Alleged N1.3 Billion Money Laundering Case
EFCC Arraigns Jude Okoye Over Alleged N1.3 Billion Money Laundering Case
Jude Okoye, former manager of the defunct music duo P-Square, has been arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of money laundering involving N1.38 billion, $1 million, and £34,537.59.
According to Channels TV, the EFCC filed a seven-count indictment against Okoye and his company, Northside Music Ltd.
During the court proceedings, Okoye pleaded “not guilty” to the charges. However, Justice Alexander Owoeye ordered his remand at the Ikoyi Correctional Facility and scheduled a bail hearing for February 28, with the trial set to begin on April 14.
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The allegations against Okoye include using a bureau de change to convert $1,019,762.87 into naira and transferring it into multiple bank accounts to allegedly conceal the funds’ origin.
He is also accused of acquiring a property valued at N850 million, which authorities claim was purchased with proceeds from unlawful activities.
The case continues to spark discussions, with many awaiting further legal proceedings.
