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Peter Okoye, one half of the famous P-Square music duo, testified against his elder brother and former manager, Jude Okoye, in a money laundering case at the Federal High Court in Lagos.
During the session, Peter accused Jude of financial misconduct, claiming he secretly created a company, Northside Music Limited, to collect the group’s royalties without informing him or his twin brother, Paul. Peter stated that Jude was the sole signatory to all P-Square’s bank accounts and refused to release funds when he requested money for a housing project in Ikoyi.
Peter alleged that his suspicions grew when he found out that Northside Music Limited had a name similar to their main label, Northside Entertainment Ltd. A check with the Corporate Affairs Commission revealed that Jude’s wife owned 80% of the new company, while Jude held 20%. He also claimed that account statements given to him were altered, with key figures missing, which affected his business plans.
Led in evidence by EFCC counsel Aso Larry, Peter explained how he and his lawyer, Afolabi, eventually petitioned Jude for financial fraud. He mentioned that the group originally had other managers before Jude took over in the early 2000s. Due to disagreements over financial control, their former lawyer, Festus Keyamo, helped establish a revenue-sharing formula.
The EFCC has charged Jude and Northside Music Limited with seven counts of money laundering, involving over ₦1.38 billion, $1 million, and £34,537.59. One charge alleges that Jude purchased a property worth ₦850 million in Parkview Estate with suspected illegal funds. Another accuses him of disguising money by converting foreign currency through a Bureau De Change.
Jude has pleaded not guilty, and the case was adjourned to June 4 for cross-examination.
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#JudeOkoye
#EntertainmentDaily
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