Ayomide Olaniyan
The Economic and Financial Crimes Commission (EFCC) declared in court on Friday it lacks concrete proof to substantiate Peter Okoye’s allegations of an $800,000 unauthorized withdrawal by his brothers, Jude and Paul Okoye, former members of the disbanded P-Square group.
Peter had lodged a complaint with the EFCC in 2024, accusing Jude of siphoning funds from P-Square’s accounts, maintaining 47 undisclosed bank accounts, and altering the ownership structure of their joint venture, Northside Entertainment Ltd.
These accusations resulted in Jude facing formal charges for the alleged financial misconduct involving the P-Square brand.
During cross-examination at the Lagos State Special Offences Court in Ikeja, EFCC prosecutor Mohammed Bashir informed Justice Rahman Oshodi that the agency could not produce evidence corroborating Peter’s $800,000 claim. Bashir stated, “We don’t possess such records. The burden of proof lies with the claimant. We cannot present what isn’t available.”
Jude, alongside his company Northside Music Limited, was formally charged on March 4, 2025, with four counts of fraud, including the alleged misappropriation of $1 million and £34,000 from digital music royalties. The EFCC alleged Jude diverted $767,544.15 received from Lex Records Limited, deliberately excluding Peter from his rightful earnings. He secured a N50 million bail two days later.
In his May 23, 2025 testimony, Peter asserted that newly uncovered proof indicated Jude and Paul had withdrawn and split $800,000 between 2013 and 2014—revising an earlier claim during cross-examination by defense counsel Clement Onwuenwunor (SAN). He further accused Jude of controlling 47 undisclosed accounts and holding an 80% stake in Northside Entertainment, allegations the EFCC disputed due to lack of documentation.
Bashir countered, “The witness’s claim about 47 accounts remains unsubstantiated. We have no such records.” The defense submitted Corporate Affairs Commission documents refuting Peter’s ownership percentage claim.
Peter conceded he only discovered Northside Music’s existence in 2024 after receiving Cynthia Morgan’s contract on the company’s letterhead, despite her albums being linked to Northside Inc.
The trial continues on December 12, 2025.
Gbenga Adebayo
