Peter Okoye Accuses Brother and Former Manager Jude of Diverting Over N1.3bn P-Square Royalties Through Secret Company Registered in Wife’s Name
Lagos, Nigeria – Peter Okoye, one half of the defunct music duo P-Square, testified in Federal High Court on Monday, alleging that his older brother and former manager, Jude Okoye, illicitly registered a company under his wife’s name to siphon royalties belonging to the group.
During his testimony as the first prosecution witness in the Economic and Financial Crimes Commission’s (EFCC) N1.38 billion money laundering case against Jude Okoye and his company, Northside Music Limited, Peter detailed how Jude incorporated Northside Music Ltd, a name strikingly similar to their original Northside Entertainment Ltd, without his or his twin brother Paul’s knowledge.
“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 stated, adding that Jude and his wife were the sole directors, with her holding 80% ownership.
Peter recounted that after P-Square’s disbandment in 2017 and subsequent reunion in 2021, he uncovered financial discrepancies, particularly concerning royalty payments. He claimed that for years, he was excluded from financial decisions and had no access to the group’s accounts, which were solely controlled by Jude. “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,” he told the court.
He further alleged that Jude refused to provide backend reports and catalogues for P-Square’s music, even after their reunion. Peter stated that his attempts to access this information were met with resistance, and he later discovered the existence of Northside Music Limited.
Peter also testified about the sudden cessation of funding for a joint house project after he went solo in 2017 and how he was allegedly denied access to his share of funds held in the group’s accounts. He claimed that upon investigation, he found that the same aggregators managing P-Square’s catalogue were also handling projects for Jude and Paul.
Following his discoveries, Peter said he sought legal counsel and subsequently petitioned the EFCC, leading to the current prosecution.
The case has been adjourned until June 4th for cross-examination.
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