Jude Okoye Freed After Two-Month Detention Over Alleged N1.38bn Fraud

Jude Okoye, the older sibling of the famous P-Square duo, has been released from detention after spending more than two months in custody following his arrest in connection with an alleged N1.38 billion fraud.

Okoye, who was formerly the manager of P-Square, faced charges of conspiracy and money laundering, brought by the Economic and Financial Crimes Commission (EFCC).

The charges accuse him of using his company, Northside Music Limited, to unlawfully divert royalties and funds meant for P-Square between 2017 and 2021.

READ ALSO: Fraud: Court Grants Jude Okoye N100m Bail

He is facing seven counts in the Federal High Court in Ikoyi, Lagos, which include laundering amounts exceeding $1 million, £34,537.59, and N1.38 billion.

Part of the allegedly laundered funds was used to purchase property valued at N850 million in Parkview Estate, Ikoyi, with the money reportedly channeled through a Bureau De Change.

Although Okoye was granted bail in early March, his release faced delays due to difficulties in meeting the bail conditions.

His brother, Paul Okoye (Rudeboy), confirmed Jude’s release on Instagram, posting a heartfelt message. “Jude is finally out after two months + …all their efforts to frustrate his bail have finally collapsed. Welcome home, brother @judeengees. And happy birthday,” Paul wrote, sharing a video of Jude’s return home.

This release comes amidst a high-profile family dispute, with Peter Okoye (Mr P), Jude’s younger brother, playing a key role in the case.

Peter testified in court, accusing Jude of depriving him of his fair share of earnings by diverting substantial amounts of money through Northside Music Limited and withholding critical financial records.

“When I asked why financing had stopped, I was told, ‘As you leave P-Square, you leave the money,’” Peter testified in court.

Jude’s legal team, led by Senior Advocate Clement Onwuenwunor, has dismissed the charges as exaggerated, claiming that the case is more about family disagreements than criminal behavior.

Onwuenwunor stressed that Jude had fully cooperated with the investigation, and that the allegations stem from misunderstandings among the brothers.

The EFCC charges also include allegations that between 2016 and 2023, Jude converted more than $1 million and £34,537.59 in digital royalties for his personal benefit.

Jude has pleaded not guilty to all the charges against him.

The case is expected to continue, with Peter Okoye set for cross-examination when the trial resumes on June 4.