P-Square Fallout Takes Legal Turn as Peter Okoye Testifies in ₦1.38 Billion Fraud Case Against Brother Jude

 

The long-standing internal feud among the Okoye brothers — Peter, Paul, and Jude — has escalated into a full-blown legal battle, with Peter Okoye, one-half of the iconic music duo P-Square, now testifying in court against his elder brother and former manager, Jude Okoye. The development marks a significant shift in the already strained relationship between the once-unified brothers behind one of Nigeria’s most successful music groups.

The case, which is being heard before Justice A. Owoeye of the Federal High Court sitting in Ikoyi, Lagos, stems from allegations of a ₦1.38 billion fraud involving Jude Okoye and his company, Northside Music Limited. Peter, through his lawyer Afolabi I., had initially taken the matter to the Economic and Financial Crimes Commission (EFCC), prompting a formal investigation and subsequent charges.

According to EFCC's Head of Media and Publicity, Dele Oyewale, Jude Okoye faces a seven-count charge, including money laundering and financial misappropriation. One of the charges alleges that Jude and his company acquired a luxury property at No. 5 Tony Eromosele Street, Parkview Estate, Ikoyi, worth ₦850 million in 2022, suspected to be funded from the proceeds of unlawful activity.

Jude, upon arraignment on February 26, 2025, pleaded “not guilty” to all charges.

In court, Peter Okoye offered a detailed account of the evolution and eventual disintegration of both the P-Square group and their business relationship. He described how P-Square began in 1997, but split in 2017, only to reconcile again in 2021. According to him, before Jude became their manager, they had others managing their careers, including Chioma Ugochi and the late Bayo Odusami.

However, things started to unravel after Jude assumed managerial control. “He became the sole signatory to all our bank accounts — in Ecobank, Zenith, and FCMB,” Peter told the court, citing persistent disputes over transparency and financial control.

One major flashpoint in the breakdown of trust was the funding of their luxury homes in Ikoyi, which Peter claimed abruptly stopped. “I asked why my house project funding ceased, and I was told, ‘As you leave P-Square, you leave the money,’” Peter stated.

He recounted approaching their then-lawyer, now Aviation Minister Festus Keyamo (SAN), who recommended the need for a clear sharing formula. Despite this, Peter discovered further irregularities, including the existence of another company — Northside Music Limited — allegedly owned by Jude and his wife, with her holding an 80% stake.

Peter narrated how his search for transparency led him to discover discrepancies in backend royalties and aggregators — third parties responsible for tracking music streams and payments. When potential buyers of the P-Square catalogue requested financial statements, Peter realized he lacked access to backend data due to being cut off from official accounts.

“My request for the backend data was refused. Even the banks said Jude instructed them not to share the statements with me unless directed by a court,” Peter testified. He added that even Paul, his twin, appeared unaware or disinterested in intervening.

Eventually, Peter secured the catalogue and redirected it through Mad Solutions, leading to his first proper payment of $22,000 — a moment that unveiled the magnitude of what he’d missed out on. “That’s when I realized something was wrong. When the backend report came back, it had been tampered with. The numbers didn’t match up,” he stated.

Further probing led Peter to the Corporate Affairs Commission’s records, where he confirmed the true ownership structure of Northside Music Limited. According to him, Jude’s move to route royalties through a different company was deliberately obscured from him, preventing him from accessing earnings generated by P-Square’s works.

Peter concluded that statements of accounts from 2017 revealed aggregators had been paying into a different account entirely — linked to Access Bank — from which he had no benefit or oversight.

This unfolding legal drama marks a sobering twist in the story of P-Square, once celebrated for their brotherhood and harmony. The court proceedings are expected to continue as Peter presses for justice and full disclosure of financial dealings that may have deprived him of his rightful share in the group’s success.