On Wednesday, 26 February 2025, Justice Alexander Owoeye of the Federal High Court in Lagos instructed that Jude Okoye Chigozie, the elder brother and former manager of the defunct music duo P-Square, be held in the custody of the Nigerian Correctional Services. Okoye is accused of money laundering involving roughly ₦1.38 billion, $1 million, and £34,537.59, according to the Economic and Financial Crimes Commission (EFCC).

Northside Music Ltd and Okoye were formally charged with seven counts of money laundering, which allegedly contravenes Section 18 (2)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and is punishable as stated in Section 18 (3). The Economic and Financial Crimes Commission claims that in 2022, Okoye purchased a property at 5 Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos, worth N850 million, using money he either knew or should have reasonably known was derived from unlawful activities.

It is alleged that Okoye used a bureau de change to exchange $1,019,762.87, which was being held in an Access Bank Plc account under the name Northside Music Ltd, for its naira equivalent. It is alleged that the funds were subsequently deposited into several bank accounts in order to conceal their unlawful origins, as reported by the EFCC.

Okoye denied all charges when brought before Justice Owoeye. Following his plea, the EFCC’s prosecuting counsel L. P. The court was asked to schedule a trial date, and Okoye was requested to be held in a correctional facility until further court action. In response, defence lawyer Inibehe Effiong informed the court that a bail application was pending, and requested a prompt hearing date, with the added request that Okoye be detained in EFCC custody until the bail matter is resolved.

The EFCC’s detention facilities were overcrowded with suspects waiting to be arraigned, Aso countered, suggesting Okoye be held in a correctional facility until his court appearance. A brief ruling by Justice Owoeye supported the prosecution, resulting in an order for Okoye’s detention at the Ikoyi facility operated by the Nigerian Correctional Services.

The court has postponed the case until February 28, 2025, for the purpose of the bail hearing and has set the trial date for April 14, 2025.

The arraignment of Okoye represents a significant milestone in the ongoing legal examination of the former manager of Paul and Peter Okoye, whose joint musical career as P-Square formerly held a prominent position in Nigeria’s entertainment industry before their highly publicized separation. As the situation develops, it is expected to reveal information about the financial transactions connected to one of the nation’s most influential music families.