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Justice Rahman Oshodi of the Special Offences Court in Ikeja, on Tuesday, ordered the remand of the former manager of the defunct hip-hop music group, P-Square, at the Ikoyi Correctional Centre pending the hearing of his bail application over alleged $1m, and £34,000 theft.
Justice Oshodi ordered his remand after taking his plea.
Okoye and his Northside Music Limited Company were arraigned before the court on four counts bordering on stealing and conversion of $1m and £34,000 royalties got from the music digital distribution/publishing.
During the arraignment, the Economic and Financial Crimes Commission prosecution counsel, Mohammed Bashiru, told the court that Okoye and Northside Music Limited allegedly stole the sum of $1,019,763.87 and £34,537.59.
Bashiru told the court that the defendant committed the alleged offences sometime between 2016 and 2023.
He said Okoye and his Northside Music Limited dishonestly converted the sum of $767,544.15, to his use, the alleged sum which was paid by Lex Records limited as payment for music digital distribution/publishing royalties with the intent to permanently deprive Peter Okoye, his special interest in the property.
The prosecutor also accused Okoye of dishonestly converting the sum of £34,537.59, paid by Lex Records Limited as payment for music digital distribution/ publishing royalties with the intent to permanently deprive Peter Okoye his special interest in the property.
The EFCC alleged that P-Square’s ex-manager dishonestly converted the sum of $133,566.49, which sum was paid by Kobalt Music digital distribution /publishing royalties with the intent to permanently deprive Peter Okoye his special interest in the property.
The anti-graft agency said the defendant dishonestly converted the sum of $118,652.23, paid by Mtech Limited as payment for music digital distribution publishing royalties with the intent to permanently deprive Peter Okoye his special interest in the property.
According to EFCC, the offences committed contravened Sections 278 and 285 of the Criminal Laws of Lagos State 2011.
However, the defendant pleaded not guilty to the charges preferred against him.
Following his not-guilty plea, the prosecutor asked the court for a trial date.
He told the court that the EFCC had 29 witnesses but that it’s only 10 who would testify against the defendants.
But the defence counsel, Clement Onwuenwunor (SAN), informed the court that the defence had filed a bail application dated February 27, 2025.
Onwuenwunor said the prosecution was served the bail application on February 28, 2025.
He noted that Okoye was arraigned before the Federal High Court on a similar charge and was granted bail on Monday.
“Onwuenwunor said the defendant is a prominent entertainer in this country. They are three brothers who formed the group P-Square.
“If granted bail, he will not jump bail. He did not jump the administrative bail the EFCC granted him. For two years after the EFCC investigated this case, he was granted administrative bail.
“It is our appeal that My Lord allows the defendant to continue to enjoy the administrative bail granted to him by the EFCC.”
However, Justice Oshodi adjourned the hearing of the bail application till March 6, 2025.
He ordered that the defendant be further remanded at the Ikoyi Correctional Centre where he was brought to the court.
The judge adjourned the commencement of the trial till May 16 and 23, 2025.
It will be recorded that Jude Okoye, the elder brother of the singing duo, Peter and Paul, is facing a similar case of seven counts before Justice Alexander Owoeye of the Federal High Court.
The Federal High Court on Monday granted him bail in the sum of N100m, with two sureties in like manner.
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