EFCC Opens $1M, £34,537 Fraud Trial Against Ex-P-Square Manager, Presents Mr. P as First WitnessThe Economic and Financial Crimes Commission (EFCC) on Friday opened its case against Jude Chigozie Okoye, former manager of the defunct P-Square music group, over an alleged $1 million and £34,537 fraud, with Peter Okoye, popularly known as Mr. P, testifying as the first prosecution witness.
Okoye, alongside his company, Northside Music Ltd., is facing a four-count charge of alleged stealing before Justice Rahman Oshodi at the Lagos State High Court in Ikeja.
Led in evidence by EFCC counsel Mohammed Bashir, Peter Okoye told the court he submitted a petition against Northside Music Ltd. on January 22, 2024, but investigations revealed that Jude’s wife, Ifeoma Okoye, holds 80% ownership of the company, with Jude controlling the remaining 20%.
According to Mr. P, the EFCC discovered that Jude operated over 47 bank accounts used to receive royalties. He added that while Jude never denied the allegations, Paul Okoye, his twin brother, had claimed Jude owned 40% of P-Square’s catalog rights, with the twins owning 30% each.
Peter testified that Northside Music Ltd., which he said was registered in 2015, was not known to him or part of P-Square’s operations. He noted that it had been operating even before the group’s split in 2017 and accused Jude of withholding royalty payments during and after the group’s reunion in 2021.
The court admitted the original petition without objection from the defence, led by Senior Advocate of Nigeria, Clement Onwuenwunor.
Peter further disclosed that prior to the group’s initial breakup in 2017, royalties were paid into Northside Entertainment Ltd., a company jointly owned by the brothers. Jude, he claimed, was the sole signatory to the company’s accounts in Ecobank, FCMB, and Zenith Bank.
He alleged that during attempts to sell P-Square’s music catalog overseas, he discovered discrepancies and tampering in the royalty back-end managed by Jude, which discouraged potential buyers.
Justice Oshodi adjourned the matter to May 23 for continuation of trial.
