Justice Owoeye Adjourns N1.38bn Fraud Trial Involving Jude Okoye to October

Justice A. Owoeye of the Federal High Court in Ikoyi, Lagos, on Wednesday, June 4, 2025, adjourned further proceedings in the alleged N1.38 billion fraud case against Jude Chigozie Okoye, elder brother and former manager of Paul and Peter Okoye, until October 23, 2025.

The Economic and Financial Crimes Commission (EFCC) Lagos Zonal Directorate 1 is prosecuting Jude Okoye and his company, Northside Music Limited, on a seven-count charge of money laundering involving the sum of N1.38 billion.

One of the charges states:
“That you, Jude Okoye Chigozie and Northside Music Limited, sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight Hundred and Fifty Million Naira only), which money you knew or reasonably ought to have known formed part of proceeds of unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Jude Okoye pleaded “not guilty” when the charges were read to him during his arraignment on February 26, 2025.

At the resumed hearing on Wednesday, the prosecution’s first witness, Peter Obumuneme Okoye, during cross-examination by defence counsel Clement Onwuewunor SAN, denied ever signing any cheque or having access to the company’s accounts while he was signed to Northside Entertainment.

He further testified that although he received payments from Northside Music Limited’s Ecobank account, these were not royalties but funds from endorsements and shows.

Peter also claimed he only became aware of the existence of Northside Music Limited, his brother’s company, in late 2022, and denied receiving any proceeds from Lex Records throughout his time with the company.

Following the testimony, Justice Owoeye adjourned the case to October 23 and November 10, 2025, for the continuation of the trial.