The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned Jude Chigozie Okoye, former manager and elder brother of Psquare’s Paul and Peter Okoye, on charges of theft and financial misappropriation amounting to $1,019,762.87 and £34,537.59.
Okoye, alongside his company, Northside Music Limited, was brought before Justice Rahman Oshodi at the Lagos State Special Offences Court in Ikeja on Tuesday. The charges, filed under case reference Ref/99260/2025, allege that he dishonestly converted royalty payments intended for Peter Okoye between 2016 and 2023.
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According to the EFCC, Okoye misappropriated funds from multiple music royalty sources, depriving Peter Okoye of his due earnings. One charge states that he and Northside Music Ltd fraudulently converted $767,544.15 paid by Lex Records Limited for digital distribution and publishing royalties. Another charge accuses him of diverting £34,537.59 from the same company.
Additionally, he is alleged to have siphoned $133,566.49 from Kobalt Music Services Limited and $118,652.23 from Mtech Limited, both payments intended for Peter Okoye. The charges are brought under Sections 278 and 285 of the Criminal Law of Lagos State, 2011.
Okoye pleaded not guilty to all four counts. The prosecution, led by M.K. Bashir, requested that he be remanded in a correctional facility pending trial. In response, defence counsel Clement Onwenwnor, SAN, informed the court of a pending bail application and requested that Okoye remain in EFCC custody until the hearing.
Onwenwnor referenced a similar case before Justice A.O. Owoeye at the Federal High Court in Ikoyi, where Okoye had been granted bail on March 3, 2025, on a separate seven-count charge. However, the prosecution opposed this request, arguing that since Okoye had entered his plea, he should be placed in a correctional facility.
Justice Oshodi ruled in favour of the prosecution, ordering Okoye’s remand at the Ikoyi Correctional Centre. The court scheduled a bail hearing for March 6, 2025, and set trial dates for May 16 and 23, 2025.
The case has drawn significant attention due to Okoye’s high-profile connections and the ongoing disputes within the Psquare family.
You can imagine how money, if not truthfully managed, can destroy a family. May God intervene and bring peace to the Okoye family.
