The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) called its first prosecution witness, Peter Okoye also known as Mr. P in the fraud case against his former manager and elder brother, Jude Chigozie Okoye, and Jude’s company, Northside Music Ltd on Friday.
The EFCC shared news of the court proceedings via its official Facebook page.
Jude Okoye and Northside Music Ltd. face a four-count charge before Justice Rahman Oshodi at the Lagos State High Court in Ikeja, over alleged theft totaling $1 million and £34,537.
Dispute Over Company Ownership Uncovered
Under examination by EFCC counsel Mohammed Bashir, Peter Okoye stated he submitted a petition to the EFCC on January 22, 2024, naming Northside Music Ltd. as the respondent.
He revealed that investigations showed Jude’s wife, Ifeoma, held an 80% stake in the company, with Jude owning the remaining 20%.
Peter explained that he didn’t raise the issue with his twin brother, Paul, or Jude until April 2024, after the EFCC asked about Paul’s possible involvement. He responded that he wasn’t sure.
He also revealed that the EFCC found over 47 bank accounts allegedly used by Jude to receive royalty payments. While both Jude and Paul were invited for questioning, only Jude was detained.
Claims of Fraud and Unauthorized Company Registration
Peter further alleged that Jude confessed to the fraudulent activities during the EFCC investigation. He recounted a discussion where Paul claimed Jude owned 40% of P-Square, while Peter and Paul each held 30%.
Peter expressed shock at the registration of Northside Music Ltd., stating, “Ifeoma was never involved in our business, and I had no idea when the company was incorporated.”
He added that although the company was officially registered in 2015, it had allegedly been operating unlawfully since before P-Square’s 2017 split.
Peter’s petition to the EFCC was accepted into evidence without objection from Jude’s legal counsel, Senior Advocate of Nigeria Clement Onwuenwunor.
Group History and Missing Royalties
In his testimony, Peter outlined the group’s history, saying he and Paul launched their music career in 1999 and later co-founded Northside Entertainment Ltd. between 2005 and 2006.
All three Peter, Paul, and Jude were shareholders, with Jude acting as the sole signatory to the company’s bank accounts with Eco Bank, FCMB, and Zenith Bank.
He said that during the group’s 2017–2021 hiatus, he received no royalty payments. Prior to that, income from platforms like iRocking.com and Free Me Digital was funneled into Northside Entertainment Ltd.’s accounts.
Upon their reunion in 2021 and with a new manager in place, Peter noticed discrepancies in royalty payments.
He testified that during a UK tour, music catalog buyers asked for backend access to their distribution platform, but Jude allegedly altered the access, causing at least seven potential buyers to withdraw interest.
Next Hearing Set for May 23
Justice Rahman Oshodi adjourned the proceedings to May 23, 2025, for continuation of the trial.
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