The Economic and Financial Crimes Commission (EFCC) has informed a Lagos High Court, Ikeja division, that it holds no documentary or forensic evidence supporting claims that Jude and Paul Okoye withdrew $800,000 belonging to the former music group P-Square.
The allegation stems from a 2024 petition by their brother, Peter Okoye, who accused Jude and Paul of diverting funds, secretly managing 47 undisclosed bank accounts, and manipulating the shareholding of Northside Entertainment Ltd. Following the petition, EFCC filed financial misconduct charges against Jude related to the management of the P-Square brand.
During cross-examination, EFCC counsel M.K. Bashir told Justice Rahman Oshodi that the commission could not produce evidence for the alleged $800,000 withdrawal. Pressed by the court, Bashir said:
“We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have.”
He also denied having proof of the alleged 47 bank accounts, stating,
“It is one of the witness’s claims, but I do not have such a copy.”
Peter Okoye had earlier testified on May 23, 2025, claiming he obtained fresh evidence showing Jude and Paul withdrew and shared over $800,000 between March 2023 and October 2024. However, when questioned by defence counsel Clement Onwuenwunor, SAN, Peter revised the timeline to between 2013 and 2014. The defence requested the court compel Peter and EFCC to produce documents related to the 47 accounts, but the judge ruled that a formal motion was required, as the documents were not yet admitted into court.
The defence also challenged Peter’s claim that Jude held an 80% stake in Northside Entertainment. Peter maintained he had evidence, but the defence presented Corporate Affairs Commission (CAC) extracts contradicting this assertion. Peter further explained that he only became aware of Northside Entertainment in 2024 when singer Cynthia Morgan shared her artist contract via Jude, which bore the company’s letterhead. He noted that while Cynthia signed under Northside Music, her albums were later credited to Northside Inc and its U.S. branch, Northside Inc. (US).
Justice Oshodi adjourned the case to December 12, 2025, for the continuation of trial proceedings and submission of final documents.
