The long-running financial dispute within the Okoye family, popularly known as P-Square, took a dramatic turn as the Economic and Financial Crimes Commission (EFCC) told a Lagos High Court sitting in Ikeja that it could not substantiate key allegations made by singer Peter Okoye against his brothers, Jude and Paul Okoye.
Peter had in 2024 submitted a petition to the EFCC accusing Jude and Paul of diverting P-Square’s group funds, illegally withdrawing $800,000, operating 47 undeclared bank accounts, and manipulating the ownership structure of Northside Entertainment Ltd, the company jointly owned by the brothers.
Following the petition, the EFCC filed charges against Jude Okoye, who managed the P-Square brand for years, over alleged financial mismanagement.
However, during resumed cross-examination before Justice Rahman Oshodi, EFCC counsel M.K. Bashir stated that the commission could not provide evidence to support the widely publicised allegation that Jude and Paul fraudulently withdrew the alleged $800,000.
When the judge asked the counsel to present proof of the withdrawal, Bashir responded, “We do not have it. It is his evidence.
Let him prove it. I can’t give what I don’t have.” His statement shocked observers and raised further questions about the strength of the EFCC’s case.
The court also examined earlier testimony from Peter, who had claimed on May 23, 2025, that he obtained new documentation showing that the alleged withdrawals occurred between March 2023 and October 2024.
But during cross-examination by defence counsel, Clement Onwuenwunor (SAN), Peter changed his position, stating that the withdrawals actually happened between 2013 and 2014.
This inconsistency became a major point of contention, as the defence insisted that such contradictions undermined Peter’s credibility.
The defence further challenged Peter’s claim that Jude operated 47 bank accounts linked to P-Square’s business operations. Peter insisted that the EFCC possessed the evidence, but Bashir again denied this, telling the court, “I do not have 47 bank accounts. It is one of the witness’s claims, but I do not have such a copy.”
Onwuenwunor urged the court to compel both Peter and the EFCC to provide the alleged evidence.
Justice Oshodi, however, refused the oral request, ruling that the defence must file a formal application since the documents were neither before the court nor admitted into evidence.
The defence also disputed Peter’s assertion that Jude owned 80 percent of Northside Entertainment.
Although Peter maintained he had proof, the defence tendered official records from the Corporate Affairs Commission (CAC) contradicting his position.
Questioning continued over Peter’s claim that he was unaware of the existence of Northside Music, a company allegedly used to sign dancehall artist Cynthia Morgan without his knowledge.
Peter stated that he only discovered the company’s operations in 2024 after Cynthia Morgan forwarded her contract, which was printed on Northside Entertainment letterhead. He added that although the contract was signed under Northside Music, her albums were attributed to Northside Inc.
The high-profile case, which has reignited public debate about P-Square’s long-standing family rift, will continue next month.
Justice Oshodi adjourned the matter to December 12, 2025, for further hearing, as the court seeks clarity on conflicting claims surrounding one of Nigeria’s biggest music brands.