Peter Okoye
The Economic and Financial Crimes Commission on Friday told a Lagos State Special Offences Court in Ikeja that it had no evidence to support Peter Okoye’s allegation that his brother, Jude Okoye, and Paul Okoye, of the defunct music group, P-Square, fraudulently withdrew $800,000.
Peter had petitioned the EFCC in 2024, claiming that Jude diverted funds belonging to P-Square, operated 47 undeclared bank accounts, and manipulated the shareholding structure of Northside Entertainment Ltd., a company jointly owned by the brothers. The petition led to charges being filed against Jude over alleged financial mismanagement of the P-Square brand.
At the resumed cross-examination on Friday, the EFCC counsel, Mohammed Bashir, told Justice Rahman Oshodi that the commission could not tender evidence supporting the alleged $800,000 withdrawal.
He said, “We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have.”
Jude and his Northside Music Limited company were arraigned on March 4, 2025, on four counts relating to the alleged stealing and conversion of $1 million and £34,000 in royalties from music digital distribution and publishing. At the arraignment, the EFCC claimed Jude and Northside Music Limited allegedly converted $767,544.15 of payments made by Lex Records Limited for digital music distribution, intending to permanently deprive Peter of his interest. Jude was granted bail of N50m on March 6, 2025. Punch
