Peter Okoye, one half of the now-defunct P-Square music duo, testified in a Lagos Federal High Court against his older brother and former manager, Jude Okoye, in a case of alleged money laundering amounting to N1.38 billion, $1 million, and £34,537.59. Jude Okoye and his company, Northside Music Limited, face a seven-count charge brought by the Economic and Financial Crimes Commission (EFCC) based on a petition filed by Peter Okoye.
Led in evidence by EFCC prosecutor Aso Larry, Peter detailed to Justice Alexander Owoeye's court how Jude allegedly incorporated a separate company to divert their royalties.
"Sometimes in 2017, the group, P-Square, disbanded. We were apart for nearly five years. In November 2021, the group came back," Peter recounted, tracing P-Square's origins to 1997-98. He explained that prior to Jude's management, they had several managers, and that after a period of self-management, they appointed Jude to manage them and Northside Entertainment Ltd.
Peter described escalating issues with Jude's management style, primarily concerning his sole signatory control over P-Square's bank accounts at Ecobank, Zenith, and FCMB. He cited a scenario during the construction of their houses in Ikoyi, where Jude was the only one authorized to sign for funds, leading to a halt in financing for Peter's project when P-Square initially disbanded. "They said, 'As you leave P-square, you leave the money'," Peter testified, prompting him to seek legal counsel from Festus Keyamo, now the Minister of Aviation.
After P-Square reunited and Jude was no longer their manager, Peter discovered Northside Music Limited, a similar company. In 2022, when he requested access to the backend to review their album's financial performance, Jude denied him access, raising Peter's suspicions. He then approached account officers at Eco Bank and Zenith Bank, who, on Jude's instructions, also refused to provide him with information.
Peter further testified that Jude and their twin brother, Paul, granted their catalogue to Mad Solution, who paid him over $22,000 after three months. A Corporate Affairs Commission (CAC) search revealed that Jude Okoye and his wife were the directors of Northside Music, with Jude's wife owning 80% and Jude owning 20% of the company.
