Peter Okoye Testifies Against Brother Jude in N1.38bn Money Laundering Case

Former P-Square Manager Faces Seven-Count Charge

The trial of Jude Okoye, former manager of the P-Square music group, commenced yesterday at the Federal High Court in Lagos. Jude faces allegations of money laundering involving N1.38 billion, $1 million, and £34,537.59. His younger brother and former bandmate, Peter Okoye, appeared as the first prosecution witness against him.

Details of the Charges

The Economic and Financial Crimes Commission (EFCC) is prosecuting Jude Okoye and his company, Northside Music Limited, on a seven-count charge. One of the charges accuses Jude of acquiring a N850 million property in Ikoyi, Lagos, with funds suspected to be proceeds of unlawful activities.

Justice Alexander Owoeye is presiding over the case, which stems from a petition filed by Peter Okoye. Jude has pleaded not guilty to all charges.

Peter Okoye’s Testimony

During the hearing, Peter Okoye, led by prosecutor Aso Larrys Peters, detailed how his brother allegedly mismanaged group funds. He explained:

“He’s my elder brother and former manager of P-Square. In 2017, the group disbanded, and we were apart for nearly five years before reuniting in November 2021.”

Financial Control Issues

Peter revealed that Jude maintained sole signatory rights to all group bank accounts, including those at Ecobank, Zenith Bank, and FCMB. He described instances where he was denied access to funds, including during the construction of his Ikoyi home.

“When I asked why they stopped financing my project, I was told ‘since you left P-Square, you left the money.’ Our lawyer, Festus Keyamo (now Aviation Minister), had to intervene to establish a sharing formula.”

Discovery of Suspicious Activities

After the group’s reunion in 2021, Peter discovered the existence of Northside Music Limited, a company similar to their original Northside Entertainment. His concerns grew when potential album buyers requested financial statements that he couldn’t access.

“I approached my twin brother Paul, who said he knew nothing about the accounts. When I confronted Jude, he claimed my share was with people in South Africa, but refused to provide account statements.”

The case continues as the EFCC presents further evidence. Jude Okoye maintains his innocence against all allegations.

Credit: The Citizen