The Economic and Financial Crimes Commission (EFCC) has revealed details of how Jude Okoye, brother and former manager of defunct P-Square music group allegedly laundered over N1.3 billion through Access Bank.
Recall that on Wednesday, ENigeria News reported the news of Jude Okoye’s widely publicized arraignment before Justice Alexander Owoeye of Federal High Court by the EFCC.
Mr. Okoye was arraigned alongside his company, Northside Entertainment Limited, on a seven-count charge of allegedly laundering of N1.38billion, $1million and £34,537.59.
However, what was not so pronounced in the trending media report was that a leading Nigerian commercial institution, Access Bank, under Access Holdings Plc which is now led by Aigboje Aig-Imoukhuede was instrumental to committing the alleged crime which is now being prosecuted by the EFCC.
According to the charge sheet seen by ENigeria News, Okoye was said to have acquired landed property at No. 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth N850,000,000.00 (Eight hundred and fifty million naira) only, which the EFCC says is 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.”
Another charge reads: “That you, Jude Okoye Chigozie and Northside Music Ltd sometimes in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly using bureau de change, converted the sum of $1,019,762.87 (One million nineteen thousand, seven hundred and six-two dollars eighty seven cents), domiciled in Access Bank Plc operated by Northside Music Ltd to the naira equivalent and remitted into various bank accounts with intention of concealing that the said fund formed part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022, among others.”
The ongoing is a result of the fallout between the Okoye brothers wherein Peter Okoye had filed a case of allegedly misappropriation, money laundering of revenues accrued via his musical royalties which he said was championed by their former manager Jude Okoye using his Northside Entertainment Limited.
The capacity of Aigboje Aig-Imoukhuede to lead Access Bank, which has demonstrated great potential under the late Herbert Wigwe, has been called into question by recent cases of theft, money laundering, and other controversies that seem to be piling up against the bank under its new leadership.
