Peter Okoye Testifies Against Brother Jude in EFCC N1.3bn Fraud Case

Peter Okoye, one-half of the iconic Nigerian music duo P-Square on Monday testified against his elder brother and former manager, Jude Okoye, in a high-profile fraud and money laundering case brought by the Economic and Financial Crimes Commission (EFCC).

Jude Okoye and his company, Northside Music Limited, face a seven-count charge related to alleged misappropriation and laundering of over ₦1.3 billion, $1 million, and £34,537.59. The trial, presided over by Justice Alexander Owoeye at the Federal High Court, was initiated following a petition from Peter Okoye himself.

During his testimony, Peter detailed how he came to suspect financial impropriety under Jude’s management of the group’s affairs.

“Psquare started in 1997/98. Before Jude became our manager, we had others, including Chioma Ugochi and the late Howie-T. But when Jude came on board, things changed. He was the sole signatory to all our accounts—Ecobank, Zenith, and FCMB,” he testified.

Peter said he was completely shut out of the group’s finances, often having to resort to third parties for funds that were rightfully his.

“There were months I couldn’t access money. It was so bad that I had to go through our lawyer, Festus Keyamo, to create a sharing formula,” he told the court.

He cited a specific incident involving his personal house project in Ikoyi. “The house project was financed by Northwest Entertainment Ltd, but for six months, they stopped funding mine. When I asked why, I was told, ‘As you leave P-Square, you leave the money.’ That was when I knew something wasn’t right.”

Peter said his suspicions deepened when he discovered a company named.

Northside Music Limited—allegedly established secretly by Jude to collect royalties due to P-Square.

“By 2022, when people wanted to acquire our albums, I requested a statement of account,” he recounted. “But Jude refused. Even the account officers at Zenith Bank told me he instructed them not to give me access. They said the only way I could get the documents was through the court.”

Further investigation at the Corporate Affairs Commission (CAC) revealed that Jude and his wife were the only directors of Northside Music Ltd, with her owning 80% and Jude 20%. Peter said he had no prior knowledge of the company’s existence.

“It was when I checked Cynthia Morgan’s album metadata—she was one of Jude’s artists—that I realized where the royalties were being diverted.”

He also alleged backend data of the group’s music catalogue had been altered, reducing its value. “When we tried to sell the catalogue, potential buyers said the numbers had been reduced and the value was no longer worth their offer.”

Peter noted that a new company, Mad Solutions, paid him $22,000 for the catalogues, only for him to learn that Jude and his twin brother, Paul, had already received their own shares.

“When I asked Paul, he said: ‘You know say I don’t know anything about it,’ and told me to go meet Jude,” Peter said.

He added that their tax consultant informed him Jude had only been paying minimal taxes on claims that the group was inactive since their 2017 split.

Following these revelations, Peter instructed his lawyer, Afolabi, to petition the EFCC, prompting the agency’s investigation.

Among the charges, the EFCC alleges that Jude used Northside Music Ltd to purchase a property in Parkview Estate, Ikoyi, for ₦850 million—believed to be laundered funds. Another charge states he converted $1,019,762.87 through a Bureau de Change and transferred the funds into various accounts to conceal their origins.

Jude Okoye has pleaded not guilty to all counts.

The trial is set to continue on June 4, when Peter Okoye will face cross-examination.