The Economic and Financial Crimes Commission (EFCC) has told Justice Rahman Oshodi of the Lagos High Court in Ikeja that it has no evidence to support musician Peter Okoye’s allegation that his elder brother and former P-Square manager, Jude Okoye, fraudulently withdrew $800,000 belonging to the group.
Peter had, in 2024, petitioned the EFCC, accusing Jude of diverting funds, operating 47 undeclared bank accounts, and manipulating the share structure of Northside Entertainment Ltd, the company jointly owned by the brothers.
Following the petition, the EFCC filed a charge against Jude over alleged financial misconduct in managing the P-Square brand.
During resumed cross-examination, EFCC counsel M. K. Bashir told the court that the commission could not substantiate the alleged $800,000 withdrawal. When asked to provide evidence supporting Peter’s claim, Bashir said: “We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have.”
Peter had earlier testified on May 23, 2025, claiming newly uncovered evidence showed that Jude and Paul withdrew and shared more than $800,000 between March 2023 and October 2024. However, when confronted with inconsistencies by defence counsel Clement Onwuenwunor (SAN), he altered the timeline, stating instead that the withdrawals happened between 2013 and 2014.
The defence also queried Peter’s allegation that Jude operated 47 bank accounts. Peter insisted the EFCC possessed the evidence, but Bashir denied this, stating: “I do not have 47 bank accounts. It is one of the witness’s claims, but I do not have such a copy.”
Onwuenwunor asked the court to compel Peter and the EFCC to produce the alleged accounts, but Justice Oshodi declined, directing the defence to file a formal application since the documents were neither before the court nor part of the admitted evidence.
The defence further challenged Peter’s claim that Jude owned 80 percent of Northside Entertainment. Although Peter maintained he had proof, the defence tendered CAC documents contradicting his assertion.
Under additional questioning, Peter said he first became aware of Northside Music in 2024 when artist Cynthia Morgan sent him her contract on Northside Entertainment’s letterhead. He said that although the contract was signed with Northside Music, her albums were credited to Northside Inc.
Justice Oshodi adjourned the matter to December 12, 2025, for continuation of trial.