A dramatic family feud unfolded in court on Monday as Peter Okoye, one-half of the popular Nigerian duo P-Square, testified against his elder brother and former manager, Jude Okoye, in a high-profile trial centered around alleged money laundering.
The trial, which is being heard before Justice Alexander Owoeye at the Federal High Court in Lagos, focuses on accusations against Jude Okoye and his company, Northside Music Limited, involving over ₦1.3 billion, $1 million, and £34,537.59. The Economic and Financial Crimes Commission (EFCC) filed a seven-count charge against Jude, following a petition from his younger brother, Peter.
Peter shared his suspicions about how his brother allegedly mismanaged and diverted funds that were meant for P-Square. During his testimony, Peter recalled how Jude became the sole signatory to all their accounts, which led to frequent disputes and Peter’s inability to access money due to the tight control Jude had over their finances.
Peter also shared the difficulties he faced while building his home in Ikoyi, stating that Northwest Entertainment Ltd, the company financing the project, had stopped funding his house for six months without explanation. When he asked why, Peter was allegedly told, “As you leave P-Square, you leave the money.”
As the investigation deepened, Peter discovered the existence of Northside Music Ltd, a company allegedly created by Jude without informing the other group members. He claimed that this company was collecting royalties that were due to P-Square and that Jude had been using this separate entity to divert funds.
Peter’s findings revealed that Jude and his wife were the directors of Northside Music Ltd, with Jude owning 20% and his wife holding 80%. Peter further alleged that Jude had tampered with their music catalog’s backend data, making it appear less valuable and reducing its offer price.
Peter’s testimony also included allegations that Jude had engaged in tax fraud, with claims that he had paid minimal taxes since P-Square’s split in 2017. Peter instructed his lawyer to file a petition to the EFCC, which initiated the investigation.
The charges against Jude include using Northside Music Ltd to purchase a property in Parkview Estate, Ikoyi, for ₦850 million, which is suspected of being laundered, and converting over $1 million through a Bureau de Change to obscure the funds’ origin.
Jude Okoye has pleaded not guilty to all the charges, and the trial was adjourned until June 4, when Peter Okoye is expected to undergo cross-examination.
