Tamuno Wokoma
In a surprising twist during court proceedings on Friday, singer Peter Okoye retracted his prior claim that he had been blocked from accessing the bank account of Northside Entertainment Limited, a company entangled in a $1 million fraud dispute involving his brother, Jude Okoye.
Testifying before Justice Rahman Oshodi, Peter clarified that he is a co-signatory to the firm’s Ecobank account, contradicting his earlier allegations that Jude controlled it exclusively.
The legal battle originated from Peter’s 2024 petition, accusing Jude—former manager of the defunct Psquare group—of misappropriating funds, maintaining undisclosed accounts, and unilaterally altering the company’s shareholding structure.
Prosecuted by the Economic and Financial Crimes Commission (EFCC), Jude faces four counts of theft exceeding $1 million, though he maintains his plea of not guilty.
Defense counsel Clement Onwuewunor submitted bank records during cross-examination proving Peter and his twin brother, Paul, were authorised to operate the account. Peter, however, attributed his earlier misstatement to misinformation from a phone call with representatives of what he called a “new bank.”
“My Lord, I confirm that I am a co-signatory to Northside Entertainment Limited’s Ecobank account,” he admitted, though he maintained that despite being added later, he never actively used this authority. “Jude initially handled everything, but eventually included me and Paul. Still, I did not sign cheques or conduct transactions.”
Peter also asserted exclusive ownership of the Psquare music catalog alongside Paul, stating Jude’s involvement began only after external managers had laid the groundwork for their success. “Jude wasn’t part of the original group. He became manager much later—around 2004 or 2005—after we’d already built our career with others.”
He further disclosed that while Jude held 40% of Northside Entertainment Limited, his own stake stood at roughly 30%, adding that royalties from Mad Solutions, their Nigerian distributor, were deposited directly into his personal account.
When presented with a royalty contract allegedly bearing his signature, he requested time to verify its authenticity. “This resembles my signature, but I need closer inspection,” he told the court.
The trial was adjourned to May 15, prolonging a feud that first split the brothers in 2017 over managerial disputes. Though they briefly reconciled in 2021, Paul publicly declared Psquare’s dissolution in August 2024.
Earlier, Peter had also alleged Jude’s wife owned 800,000 shares in Northside Music Limited—a claim yet to be substantiated in court.
