In a courtroom drama that has stunned fans and industry insiders alike, Peter Okoye, one-half of the iconic Nigerian music duo P-Square, testified against his elder brother and former manager, Jude Okoye, in an ongoing ₦1.3 billion money laundering trial.
The case, which is being heard before Justice Alexander Owoeye at the Federal High Court in Lagos, centers on serious allegations of financial misconduct involving Jude Okoye and his company, Northside Music Limited.
EFCC Files Criminal Charges Against Jude Okoye
The Economic and Financial Crimes Commission (EFCC) filed a seven-count charge against Jude following a petition submitted by Peter. The charges include alleged diversion of royalties, tax fraud, and money laundering involving ₦1.3 billion, $1 million, and £34,537.59.
Peter revealed in his testimony that Jude’s financial control over P-Square’s accounts—held at Zenith Bank, Ecobank, and FCMB—often left him financially stranded.
“There were months I couldn’t access money. It got so bad I had to involve our lawyer, Festus Keyamo, to draft a profit-sharing formula,” Peter said.
He recounted a critical moment during the construction of his home in Ikoyi, which was financed by Northwest Entertainment Ltd. According to him, the funding stopped abruptly, with the message: “As you leave P-Square, you leave the money.”
Discovery of a Suspicious Company: Northside Music Ltd
Peter testified that he discovered Northside Music Limited, a company allegedly created by Jude without the knowledge of the P-Square group. He claimed the company was a mirror of their official label, Northside Entertainment Ltd, and was used to collect royalties owed to P-Square.
“When I demanded a statement of account in 2022, Jude refused. Zenith Bank staff confirmed that he instructed them not to release any documents to me. They said I could only get them through a court order,” he stated.
Peter also uncovered that the same digital aggregators handling P-Square’s music were also managing Northside Music Ltd. His twin brother, Paul, reportedly distanced himself from the issue, saying, “You know say I don’t know anything about it.”
Further investigation at the Corporate Affairs Commission (CAC) revealed that Jude and his wife were the sole directors of Northside Music Ltd, with ownership split at 20% and 80%, respectively.
“I only found out the company existed when I reviewed Cynthia Morgan’s album metadata and noticed the royalty redirection,” he added.
Allegations of Tampered Metadata and Fraudulent Transactions
Peter claimed that attempts to retrieve and sell the P-Square music catalog were hampered by backend tampering, which significantly lowered the catalog’s market value.
He noted that a new company, Mad Solutions, later took over the catalog and paid him $22,000. However, he was informed that Jude and Paul had already received their shares.
He further alleged that Jude paid negligible taxes, using the claim that P-Square had ceased operations following their 2017 split. This discovery led Peter to instruct his lawyer, Afolabi, to petition the EFCC—sparking the current investigation.
Details of the EFCC’s Allegations
Among the criminal charges, the EFCC alleges that Jude used Northside Music Ltd to purchase a property in Parkview Estate, Ikoyi, for ₦850 million—funds suspected to be laundered. Another charge claims he converted $1,019,762.87 through a Bureau de Change into naira, distributing the funds across multiple accounts to obscure their origins.
Jude Okoye has pleaded not guilty to all charges. The case has been adjourned until June 4 for cross-examination of Peter Okoye.
EFCC prosecutor Larry Peter Aso confirmed that Peter’s testimony detailed how Jude, as sole signatory to their accounts, allegedly mismanaged and diverted group funds.
“P-Square started around 1997/1998. Before Jude became our manager, we had others. But once Jude came on board, he became the only signatory to all our accounts,” Peter said in court.
This high-profile family feud has now taken center stage in one of Nigeria’s most explosive celebrity court battles. As the trial unfolds, fans and observers are waiting to see how deep the alleged financial impropriety runs—and what it means for the legacy of P-Square.