Alleged $1M, £34,537 Fraud: EFCC Presents Peter Okoye As First Witness Against Ex-P-Square Manager

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on Friday presented its first prosecution witness, Peter Obumuneme Okoye—popularly known as Mr. P—against his elder brother and former P-Square manager, Jude Chigozie Okoye, before Justice Rahman Oshodi at the Lagos State High Court in Ikeja.

Jude Okoye is standing trial alongside his company, Northside Music Ltd., on a four-count charge bordering on alleged theft totaling $1 million and £34,537.

Led in evidence by EFCC’s prosecuting counsel, Mohammed Bashir, the first witness (PW1), Peter Okoye, testified that Jude’s wife, Ifeoma Okoye, holds 80% ownership of Northside Music Ltd., while Jude owns the remaining 20%.

“I submitted a petition to the EFCC with my lawyer on January 22, 2024,” Peter said. “Initially, I listed Northside Music as the respondent, but the Commission’s investigations revealed that the company is majority-owned by Ifeoma, with Jude holding a minority stake.”

Peter further stated that he had no communication with either of his brothers—Paul or Jude—until April 2024, when EFCC investigators asked if Paul had any involvement in the alleged fraud. “I told them I didn’t know,” he testified. “They later uncovered over 47 bank accounts used by Jude to receive royalty payments.”

According to Peter, both Paul and Jude were summoned by the EFCC, but only Jude was detained.

“In one of the meetings at the Commission, Paul mentioned that Jude owns 40% of P-Square, while Paul and I each hold 30%,” Peter said. “Jude never denied the allegations. Ifeoma was never involved in our business affairs, and I had no knowledge of when Northside Music was incorporated.”

Peter revealed that Northside Music was registered in 2015, but had allegedly operated illegally for two years prior to P-Square’s 2017 split.

The prosecution subsequently sought to tender the original petition dated January 22, 2024. There was no objection from the defense counsel, Chief Clement Onwuenwunor, SAN, and it was admitted into evidence.

Earlier in his testimony, Peter recounted the origins of P-Square, formed in 1999, and the establishment of their original company, Northside Entertainment Ltd., between 2005 and 2006. Both he and Paul were shareholders and directors, while Jude served as the sole signatory to all company accounts—including Naira and Dollar accounts in Eco Bank, FCMB, and Zenith Bank.

“Before the group’s 2017 breakup, all royalties were paid into Northside Entertainment Ltd. via our two main aggregators—iRocking.com and FreeMe Digital,” he explained. “Revenue was generated from streaming platforms.”

Peter said that after he launched his solo career as “Mr. P” and hired a new manager, he began noticing discrepancies in royalty payments. This prompted further investigation.

“Upon reuniting in 2021, I discovered that Jude had created a new company—Northside Music—which he was using to collect royalties without our knowledge,” Peter stated. “While on tour in London, a prospective buyer interested in purchasing our music catalog requested back-end access. That’s when we uncovered even more irregularities.”

Peter added that repeated attempts to retrieve access from Jude were unsuccessful, and he later found that Jude had allegedly tampered with the original back-end system. “Because of this, more than seven interested companies backed out of purchasing our catalog,” he noted.

Justice Oshodi adjourned the case to May 23, 2025, for continuation of trial.