The Economic and Financial Crimes Commission, EFCC, has arraigned Jude Okoye Chigozie, former manager and elder brother of Paul and Peter Okoye over allegations of money laundering in the sum of N1.38 billion, $1 million, and £34,537.59.
Okoye, alongside his company, Northside Music Ltd, appeared before Justice A.O. Owoeye of the Federal High Court in Ikoyi, Lagos, on Wednesday, February 26, 2025.
The seven-count charge against him includes purchasing a property worth N850 million in Parkview Estate, Ikoyi, with funds suspected to be proceeds of unlawful activities. Another charge accuses him of converting over $1 million through a bureau de change to disguise its illegal origins.
During the court session, Okoye pleaded not guilty to all charges. The EFCC’s prosecution counsel, L.P. Aso, requested a trial date and urged the court to remand him in a correctional facility. However, Okoye’s lawyer, Inibehe Effiong, applied for bail and pleaded that his client be kept in EFCC custody instead, citing concerns over his safety.
Opposing the request, the prosecution argued that the EFCC detention center is already congested and that Okoye should be placed in a correctional facility since he had already taken his plea.
After considering the arguments, Justice Owoeye ruled that Okoye be remanded at Ikoyi Correctional Centre pending the outcome of his bail application.
The judge adjourned the case, setting February 28, 2025, for the bail hearing, while the trial is scheduled to commence on April 14, 2025.
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