Music star Peter Okoye, one half of the iconic duo P-Square, on Monday, April 14, testified before the Federal High Court in Lagos, recounting how his older brother and former manager, Jude Okoye, secretly registered a new company in his wife’s name and allegedly used it to divert royalties belonging to the defunct music group, P-Square.
Jude Okoye is facing a seven-count charge filed by the Economic and Financial Crimes Commission (EFCC), alleging money laundering to the tune of N1.38 billion, $1 million, and £34,537.59, alongside his company, Northside Music Limited.
Peter, the first prosecution witness, revealed that Jude incorporated Northside Music Ltd, a name strikingly similar to their original company, Northside Entertainment Ltd, ‘without informing him or his twin brother, Paul.’ “I found out Jude had incorporated another company, Northside Music Ltd similar to our original Northside Entertainment Ltd and he was using it to collect our royalties,” Peter testified. “He and his wife are the only directors. She owns 80 per cent and he owns 20 per cent.”
Peter explained that after P-Square disbanded in 2017 and later reunited in 2021, he started noticing discrepancies in their financial dealings, especially around royalty payments. “He was the sole signatory to our accounts in Zenith Bank, Ecobank, and FCMB. I couldn’t even buy a phone without Jude’s permission,” Peter said.
Peter further detailed how, in late 2022, when someone wanted to acquire their albums, they asked for their statements of account. Peter realized he had no access to the “backend,” where digital revenue can be traced via platforms like YouTube or iTunes. “Jude refused to provide the backend information, prompting Peter to approach Paul, who reportedly responded, ‘You know I don’t know anything about that, but Jude…’”
Peter also shared how Jude later told him that his share of the money was with some people in South Africa, but Peter clarified that he wasn’t asking for money, only for the backend and account details. “I received no positive response,” he said.
He revealed that their lawyer advised them to establish a sharing formula for their finances. “Jude controlled all the money. We were building houses, financed through Northside Entertainment Ltd. But when I left P-Square, they stopped funding my house. When I asked why, I was told, ‘As you leave P-Square, you leave the money.’”
Peter recounted how he contacted Zenith Bank’s account officer, who told him that Jude had instructed him not to send anything to Peter, and that the only way he could access the money was through the court. He also discovered that the same aggregators managing P-Square’s catalogue were handling projects for Jude and Paul. “When I started asking questions, they allowed me to give the catalogue to Mad Solutions. Three months after signing with them, I received over $22,000. When I asked if they had received their shares, I was told they had already been paid,” he testified.
Peter expressed that he had never heard of Northside Music before and upon investigating the Corporate Affairs Commission website, found that the directors were Jude and his wife, with her owning 80 per cent of the shares. He explained, “When I confronted Jude for the backend again, he said it would take three and a half months to retrieve the catalogue. When we finally received it, it showed no figures, only numbers. The aggregators said the backend had been tampered with, which affected its value. People who initially offered $8,000 were now only willing to offer $500.”
Peter elaborated on the group’s early years, stating that they had several managers before Jude took over. “After that, my twin brother and I managed ourselves for a couple of months before we asked Jude to manage us and Northside Entertainment Ltd,” he recalled.
Peter described his frustration when funding for a joint house project in Ikoyi was suddenly cut off after the group’s disbandment in 2017. “That’s when I went to our lawyer, Festus Keyamo (SAN), now Minister of Aviation, and told him I couldn’t even buy a phone without Jude’s approval,” Peter said.
Peter further discussed the discovery of irregularities in their tax affairs and how a tax official visited his home, claiming Jude should only pay around N2m. He said the official also mentioned that they hadn’t performed since the split, but Peter’s investigation of Access Bank statements revealed otherwise. “When I checked the Access Bank statements from January to December 2017, they were all from aggregators,” he said.
After these discoveries, Peter contacted his lawyer, Afolabi, who then petitioned the EFCC. The trial has been adjourned to June 4, 2025, for cross-examination.
