Peter Okoye Testifies Against Brother Jude in ₦1.38 Billion Fraud Case

The Federal High Court in Lagos has begun hearing a case against Jude Okoye, former manager of the music duo P-Square, who is accused of money laundering involving ₦1.38 billion, $1 million, and £34,537.59.

The Economic and Financial Crimes Commission (EFCC) has filed seven counts against Jude and his company, Northside Music Limited, related to alleged financial misconduct.

On April 14, 2025, Peter Okoye, one half of P-Square and Jude’s younger brother, appeared as the EFCC’s first witness. He told the court that disputes over the group’s finances surfaced after P-Square’s 2017 breakup and 2021 reunion.

Peter alleged that Jude had sole control over the duo’s accounts at Ecobank, Zenith Bank, and FCMB, acting as the only signatory. This arrangement, he claimed, led to a lack of transparency, including Jude’s sudden decision to halt funding for Peter’s personal housing project in Ikoyi, Lagos, without explanation.

A central charge accuses Jude and Northside Music Limited of purchasing a property in 2022 at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, valued at ₦850 million, with funds the EFCC alleges were proceeds of illegal activities. Another count claims Jude used a bureau de change to convert $1,019,762.87 into naira and funneled it into various accounts to obscure its source, violating the Money Laundering (Prevention and Prohibition) Act, 2022.

Peter testified that he uncovered Northside Music Limited, a company allegedly established by Jude and his wife without his or his twin brother Paul’s involvement. He stated that Jude’s wife held 80% of the shares and Jude 20%, and that the company was used to siphon P-Square’s royalties.

When Peter requested financial statements, he said Jude and bank officials refused access, with a Zenith Bank officer reportedly stating that only a court order would release the records. Peter also alleged that Jude manipulated royalty data, causing a potential buyer to slash an $8,000 offer for P-Square’s music catalogue to $500.

Jude has pleaded not guilty to all charges. The trial, overseen by Justice Alexander Owoeye, has been adjourned to June 4, 2025, for Peter’s cross-examination.