Money, Power, and Justice: Jude Okoye’s Trial, Dangote’s Fuel Relief, Trump’s $5M Residency Plan, and Naira Marley’s Court Victory!

Former P-Square Manager, Jude Okoye, Faces Money Laundering Charges

Lagos, Nigeria – The Economic and Financial Crimes Commission (EFCC) has arraigned music executive Jude Okoye, former manager of the defunct music duo P-Square, over allegations of money laundering amounting to N1.38 billion, $1 million, and £34,537.59. The case, which also implicates his company, Northside Music Ltd, was brought before a Lagos court on Wednesday.

According to the EFCC, Okoye and Northside Music Ltd allegedly acquired a high-value property in Parkview Estate, Ikoyi, Lagos, in 2022, knowing it was purchased with funds linked to unlawful activities. In addition, the agency claims that he used a bureau de change to convert over $1 million into naira, distributing the funds across multiple bank accounts in an attempt to conceal their origins. These actions, prosecutors argue, violate the Money Laundering (Prevention and Prohibition) Act of 2022.

Okoye, however, pleaded not guilty to all seven charges leveled against him. The prosecution, led by counsel L.P. Aso, requested that the court set a trial date and remand the defendant in a correctional facility. Okoye’s defense lawyer, Inibehe Effiong, countered with a bail application, asking that his client be held in EFCC custody pending the court’s decision on the request.

Justice Owoeye, presiding over the case, ruled against the defense’s appeal, citing the congestion at EFCC’s holding facility. He ordered Okoye’s remand at Ikoyi Correctional Centre and scheduled the bail hearing for February 28, 2025, with the trial set to commence on April 14, 2025.

The high-profile case has generated significant public interest, given Okoye’s prominence in the Nigerian entertainment industry.

Dangote Refinery Lowers Petrol Price to N860 Per Litre in Lagos

Lagos, Nigeria – In a move aimed at easing the financial strain on Nigerians, Dangote Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol. Effective February 27, 2025, the price will drop from N890 to N825 per litre, marking a N65 reduction.

Under the revised pricing structure, fuel will be available at MRS outlets for N860 per litre in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East regions. Similarly, AP (Ardova Petroleum) and Heyden stations will sell petrol at N865 per litre in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.

Dangote Refinery reassured Nigerians of a steady supply of petroleum products, emphasizing that it has ample reserves to meet domestic demand while also contributing to foreign exchange earnings through exports.

The price reduction is part of the company’s effort to provide relief ahead of the Ramadan season and aligns with the economic recovery agenda of President Bola Ahmed Tinubu. The move is expected to lessen the financial burden on citizens while supporting the nation’s broader economic growth initiatives.

Trump Introduces $5 Million ‘Gold Card’ Residency Permit for Wealthy Investors

Washington, D.C. – Former U.S. President Donald Trump has unveiled a new high-value residency initiative aimed at attracting wealthy foreign investors. Announced on Tuesday, the Gold Card will be available for $5 million per applicant, offering an exclusive alternative to the traditional Green Card.

Speaking from the Oval Office, Trump emphasized that the initiative is designed to stimulate the U.S. economy by encouraging high-net-worth individuals to invest, build businesses, and create jobs. He also highlighted its potential role in reducing the national deficit.

"The Gold Card is a premium pathway for individuals with significant financial resources who want to contribute to America’s growth," Trump stated.

He projected that sales of the residency permits could begin within two weeks, with the potential issuance of up to one million Gold Cards. To ensure security and compliance, applicants will be subject to rigorous screening processes before approval.

This initiative underscores Trump’s continued focus on economic expansion and investment-driven immigration policies.

Naira Marley, Sam Larry, and PrimeBoy have no case to answer

Lagos, Nigeria – The Yaba Magistrate Court has ruled that singer Abdulazeez Fashola, popularly known as Naira Marley, has no case to answer regarding the tragic death of Ilerioluwa Aloba, widely recognized as Mohbad.

Presiding over the case, Magistrate Ejiro Kubenje acquitted Naira Marley, along with music promoter Samson Balogun (Sam Larry), artist Owodunni Ibrahim (PrimeBoy), and Mohbad’s former manager Opere Babatunde. The court’s decision marks a significant turn in the legal proceedings surrounding Mohbad’s passing.

However, the Directorate of Public Prosecution (DPP) has confirmed that Feyisayo Ogedengbe, the auxiliary nurse who attended to Mohbad before his death, will face prosecution. Additionally, Ayobami Sadiq, a friend of the late singer, will be charged with reckless and negligent acts, an offense under Section 251 (e) of the Lagos State Criminal Law, 2015.

The two individuals are expected to face legal proceedings in the magistrate court in the coming weeks.