In a shocking turn of events, Nigerian music star Peter Okoye, one-half of the iconic duo P-Square, has taken the witness stand against his elder brother and former manager, Jude Okoye, in a high-profile money laundering case involving over ₦1.38 billion, $1 million, and £34,537.59.
The case, brought by the Economic and Financial Crimes Commission (EFCC), began on Monday, April 14, at the Federal High Court in Lagos, presided over by Justice Alexander Owoeye. Jude Okoye, along with his company, Northside Music Limited, is facing a seven-count charge linked to allegations of fraud and mismanagement of funds.
Peter Okoye’s Testimony: “He Was the Sole Signatory to All Our Accounts.”
Taking the witness box, Peter Obumneme Okoye shared emotional and detailed accounts of how his brother allegedly mishandled funds belonging to the P-Square group.
“He’s my elder brother and our former manager,” Peter began. “After P-Square disbanded in 2017, we didn’t reunite until 2021. During that time, I had no access to any of our accounts or earnings. Jude was the sole signatory to all our accounts—Ecobank, Zenith, and FCMB.”
Peter explained that financial discrepancies began to surface while they were building their homes in Ikoyi. He alleged that Jude suddenly halted the funding of his house for six months, stating that “since I left P-Square, I left the money.”
Frustrated by the lack of transparency, Peter turned to their lawyer, Festus Keyamo (SAN), now Minister of Aviation, who suggested a fair sharing formula. Still, Peter’s access to finances remained blocked.
Discovery of Northside Music Limited
Things escalated further in 2022 when Peter discovered the existence of a previously unknown company, Northside Music Limited. He suspected it was being used to reroute earnings from P-Square’s music catalog. When he sought access to financial statements from their aggregators, he was met with silence.
After multiple unsuccessful attempts to retrieve backend data from Jude, Peter said he was told by a Zenith Bank officer that Jude had instructed the bank not to release the statements to him. The only way, the officer said, was through the court.
Eventually, Peter received limited backend data that had allegedly been tampered with, leading potential buyers to devalue their music catalog. “What was once worth $8,000 USD was now seen as barely $500,” he said.
He later found through the Corporate Affairs Commission (CAC) that Jude’s wife owned 80% of Northside Music, while Jude held the remaining 20%, raising further concerns over financial control and ownership.
A Family Rift with Legal Consequences
Peter’s testimony reveals not just a financial dispute but a painful rift within one of Nigeria’s most celebrated music families. Despite their reunion in 2021, it appears old wounds and unresolved issues continued to haunt the brothers.
Jude Okoye has pleaded not guilty to all charges and maintains that he has done nothing wrong. The trial is ongoing, with the EFCC continuing to build its case based on financial records, company ownership documents, and witness testimonies.