The court heard that Jude’s management of P-Square’s finances was shrouded in secrecy, with him being the sole signatory to the duo’s bank accounts.
Peter Okoye of P-Square has testified against his brother Jude Okoye in a money laundering case at the Federal High Court, Lagos. Peter alleged Jude incorporated Northside Music Limited to divert their royalties, stating, “As you leave P-Square, you leave the money,” when denied funds for his Ikoyi house project. He revealed Jude’s wife owns 80% of the company while Jude holds 20%, with backend records allegedly tampered with. The EFCC charged Jude and his company with laundering ₦1.38bn, $1m, and £34,537.59, including a ₦850m Ikoyi property purchase. Jude pleaded not guilty.
Jude Okoye, P-Square’s former manager, faces seven counts of money laundering, including converting $1m via a Bureau de Change. Peter Okoye testified that Jude controlled all group accounts, denying him access to funds. “I discovered the defendant and his wife were directors of Northside Music,” Peter told the court. The EFCC alleges Jude acquired high-value assets with illicit funds, violating anti-money laundering laws. Jude denied the charges, with the case adjourned to June 4 for cross-examination. The trial highlights the bitter fallout within Nigeria’s once-celebrated music dynasty.
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