The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, the elder brother and former manager of the defunct music group P-Square, on fresh charges of theft totaling $1,019,763.87 and £34,537.59.

The arraignment took place on Tuesday, March 4, at the Lagos State Special Offences Court in Ikeja.

The latest charges, filed under case number Ref/99260/2025, accuses Okoye and his company, Northside Music Limited, of dishonestly converting funds intended as music royalties for Peter Okoye.

EFCC prosecutor Mohammed Bashiru alleged that Okoye misappropriated $767,544.15 paid by Lex Records Limited for digital distribution and publishing royalties.

The prosecution further accused him of converting £34,537.59 from the same source, as well as $133,566.49 from Kobalt Music and $118,652.23 from Mtech Limited, all between 2016 and 2023. Bashiru told the court:

“These payments were meant for music royalties, but the defendant dishonestly converted them for his personal use, with the intent to permanently deprive Peter Okoye of his special interest in the funds.”

The EFCC stated that the offences violate Sections 278 and 285 of the Criminal Laws of Lagos State, 2011.

Okoye however pleaded not guilty to all charges.

His counsel, Clement Onwuenwunor (SAN), informed the court that a bail application had been filed on February 27, 2025.

However, prosecuting counsel Bashiru opposed the application, stating he had yet to file a response.

Justice Oshodi declined to grant immediate bail, directing the prosecution to submit its response before the next hearing on March 6. The trial is scheduled for May 16 and 23.

This development comes just a day after Jude Okoye was granted N100 million bail in a separate seven-count charge involving alleged money laundering of N1.38 billion, $1 million, and £34,537.59.

Due to the severity of the case, netizens have taken to social media to air their views on the issue. Some have pleaded with Peter Okoye, whom his twin brother claims reported Jude to the EFCC, others have berated the ex-manager for being behind the defunct group’s demise due to his alleged thievery.

See what some had to say in screenshot below as Jude Okoye gets remanded over fresh $1M and £34K fraud charges hours after bail