The Nigerian entertainment industry has been rocked by a major financial scandal as Jude Okoye, the former manager of the famous music duo P-Square, has been remanded in Ikoyi Correctional Centre over allegations of misappropriating over $1 million and £34,000 in digital distribution and publishing royalties. This development follows his arraignment before Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, where he was accused of dishonestly converting funds meant for music distribution and royalties. The Economic and Financial Crimes Commission, EFCC, brought forward four charges of theft and fraudulent conversion against Okoye and his company, Northside Music Limited, detailing a pattern of financial misconduct spanning from 2016 to 2023.
According to the EFCC, Okoye allegedly diverted $767,544.15 paid by Lex Records Limited as digital distribution royalties, £34,537.59 from the same company, $133,566.49 from Kobalt Music Services Limited, and $118,652.23 from Mtech Limited, all intended for the rightful beneficiaries within the music industry. The anti-graft agency insisted that these funds were dishonestly converted for personal use, violating Sections 278 and 285 of the Lagos State Criminal Laws, 2011. The prosecution also indicated that 10 out of 29 EFCC witnesses would testify against Okoye during the trial, providing what they claim is overwhelming evidence of financial mismanagement and illegal conversion of funds.
Okoye pleaded not guilty to all charges during his arraignment. His legal counsel, Clement Onwenwnor, SAN, argued for bail, citing a previous case where Okoye had been granted bail under similar circumstances at the Federal High Court. The defense maintained that Okoye had consistently cooperated with the EFCC for over two years and had never violated his administrative bail conditions. The legal team emphasized that he was not a flight risk and urged the court to consider granting him bail under the same conditions as his previous case.
Despite the defense’s plea, the prosecution, led by M.K. Bashir, strongly opposed Okoye’s bail request, arguing that remanding him in EFCC custody was not an option due to the agency’s already congested detention facilities. The prosecution insisted that sending Okoye to a correctional facility would ensure proper custody while awaiting further legal proceedings. After listening to both sides, Justice Oshodi ruled that Okoye be remanded at Ikoyi Correctional Centre pending the hearing of his bail application, which has been scheduled for March 6, 2025. The court further announced that the trial would officially commence on May 16 and 23, 2025.
The case has drawn significant public interest, not only due to Okoye’s close ties to P-Square, one of Africa’s most successful music groups, but also because of the substantial amounts involved. The Nigerian entertainment industry has faced growing concerns over transparency in financial dealings, especially concerning digital music distribution and publishing royalties. This latest case underscores the challenges artists and their representatives face in navigating the financial aspects of the industry.
With Okoye now in remand and awaiting trial, industry stakeholders are watching closely to see how the legal process unfolds. If convicted, the consequences could be severe, potentially setting a new precedent for accountability in the music business. The case also raises broader questions about financial transparency within Nigeria’s entertainment sector, as more artists and executives come under scrutiny for their handling of royalties and contractual obligations.
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