The trial of Jude Okoye, the former manager of the P-Square group, over alleged money laundering involving N1.38 billion, $1 million, and £34,537.59, continued on Tuesday with the testimony of his younger brother, Peter Okoye, before a Federal High Court in Lagos. Jude, alongside his company Northside Music Limited, is facing a seven-count charge, with the Economic and Financial Crimes Commission (EFCC) prosecuting the case.
The trial is being heard in the court of Justice Alexander Owoeye, who is overseeing the case based on a petition filed by Peter Okoye to the EFCC.
During his testimony, Peter, led in evidence by the prosecutor, Aso Larry, detailed how his brother Jude incorporated another company to collect the group’s royalties. He explained that in 2017, P-Square disbanded and remained apart for nearly five years, before reuniting in November 2021.
Peter recounted the early years of the group, stating, “P-Square started in 1997-98. Before Jude became our manager, we had several managers, including Chioma Ugochi, who managed us when we were in secondary school and university, and the late Bayo Odusami, who managed us for five years. After that, my twin brother and I managed ourselves for a couple of months before we decided that Jude should manage us and Northside Entertainment Ltd.”
He described how they began facing issues with Jude’s management of the group’s business, particularly concerning his control over their bank accounts. “The issues were mainly on how he was the sole signatory to all our bank accounts in Ecobank, Zenith, and FCMB,” Peter explained.
Peter went on to describe an incident when they were building houses in Ikoyi, where only Jude could sign out money. He revealed that the financing of the house project, handled by Northwest Entertainment Ltd., stopped for six months. When he inquired about the stoppage, Jude and his twin brother Paul reportedly responded, “As you leave P-Square, you leave the money.” This prompted Peter to seek legal counsel from their lawyer, Festus Keyamo, now the Minister of Aviation, who suggested a new sharing formula for the group.
After the group reunited in 2021, Peter discovered that Jude had set up a similar company, Northside Music Limited, which was handling their affairs. In 2022, Peter sought access to the company’s backend to review the album’s financials but was denied. This raised suspicions, and after questioning bank account officers at Ecobank and Zenith Bank, Peter learned that Jude had instructed them not to provide any information to him.
Peter Okoye further testified that Jude and Paul later handed over the P-Square catalogue to Mad Solution, which paid over $22,000 to Peter after three months of the agreement. He also revealed that when he checked the Corporate Affairs Commission (CAC) site, he found that Jude and his wife were listed as the directors of Northside Music Limited, with Jude’s wife owning 80 percent of the company and Jude owning 20 percent.
The trial continues as the court examines the evidence in the case.
