In a dramatic courtroom twist, Peter Okoye, one half of the iconic P-Square duo, has taken a firm stand against his older brother and former manager, Jude Okoye, in a high-profile money laundering case currently unfolding at the Federal High Court in Lagos
During Monday’s session, Peter testified that Jude, who managed the group’s finances, had secretly established a company, Northside Music Limited, to collect P-Square’s royalties without his or his twin brother Paul’s knowledge. According to him, this move kept him in the dark about the group’s earnings and forced him to launch a personal investigation to uncover the truth.
He told the court that Jude was the sole signatory to all P-Square accounts in Ecobank, Zenith Bank, and FCMB. When Peter requested funds for a housing project in Ikoyi, he alleged Jude coldly replied, “As you leave P-Square, you leave the money.”
Peter further claimed that his suspicions deepened when he discovered Northside Music Limited bore a name strikingly similar to their main label, Northside Entertainment Ltd. Upon checking with the Corporate Affairs Commission (CAC), he found that Jude’s wife owns 80% of the new company while Jude holds 20%.
When he asked Jude for backend reports and account statements, Peter alleged that the data provided had been tampered with—showing reduced figures and missing information that cost him potential business opportunities. He also revealed that the aggregators distributing P-Square’s music were the same ones managing accounts for Paul and Jude, which raised further red flags.
Led in evidence by EFCC counsel Aso Larry, Peter recounted how he and his lawyer, Afolabi, eventually petitioned Jude for financial fraud. He explained that the group initially had other managers before Jude took over in the early 2000s. Conflicts arose later due to Jude’s absolute control over their finances, prompting legal intervention from their then-lawyer, Festus Keyamo (now Minister of Aviation), to establish a revenue-sharing formula.
The EFCC has charged Jude Okoye and Northside Music Limited with a seven-count indictment involving alleged money laundering of N1.38 billion, $1 million, and £34,537.59.
One of the charges states that in 2022, Jude allegedly purchased a property worth N850 million in Parkview Estate, Ikoyi, using funds believed to be proceeds of unlawful activities. Another charge accuses Jude of converting over $1 million to naira via a Bureau De Change and transferring the funds across several bank accounts to disguise their origin.
Jude has denied all allegations and pleaded not guilty to the charges. Justice Alexander Owoeye adjourned the case to June 4 for cross-examination.
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