P-Square Funds Row: Peter Okoye Says Brother’s Wife Owns 800,000 Shares In Company Under EFCC Probe

Peter Obumuneme Okoye, the first prosecution witness in the trial of his elder brother, Jude Chigozie Okoye, has told the Lagos State High Court, Ikeja, that the defendant’s wife owns 800,000 shares in Northside Music Limited.

Jude Okoye, a former manager of the music duo P-Square, alongside his company, is facing a four-count charge by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) over alleged theft exceeding $1 million. He pleaded not guilty to the charges.

At Friday’s resumed trial, defence counsel Clement Onwuenwunor (SAN) presented statements of account from Northside Music Limited, seeking to challenge the prosecution. PW1, however, said the accounts reflected joint business interests of the Okoye brothers, explaining, “These statements of account belong to me and my brother. We are P-Square. The company belongs to Peter and Paul. It was registered by him. I reported to the EFCC when I discovered funds were being diverted.”

Peter Okoye also confirmed that he petitioned the EFCC through his lawyer and reiterated that the defendant’s wife holds 800,000 shares in the company allegedly diverting P-Square’s funds.

The defence’s attempt to tender documents attached to the original EFCC petition was rejected by Justice Rahman Oshodi, following objections from the prosecution that the copies did not meet legal admissibility standards.

The court adjourned the case to February 20 and 27, 2026, for continuation of the trial.