The Economic and Financial Crimes Commission, (EFCC), has told the Lagos High Court in Ikeja that it has no evidence to support the allegation by singer Peter Okoye that his brothers, Jude and Paul Okoye, illegally withdrew $800,000 from P-Square’s funds.
Peter had petitioned the EFCC in 2024, accusing Jude and Paul of diverting group earnings, operating 47 undeclared bank accounts, and manipulating the ownership structure of their company, Northside Entertainment Ltd. The petition led to charges being filed against Jude over alleged financial impropriety.
However, during resumed cross-examination, EFCC counsel M.K. Bashir informed Justice Rahman Oshodi that the commission could not substantiate Peter’s $800,000 claim. When asked by the judge to provide evidence, Bashir replied: “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, that new documents showed Jude and Paul withdrew and shared over $800,000 between March 2023 and October 2024. But when confronted with inconsistencies by defence counsel, Clement Onwuenwunor, SAN, he revised his testimony, saying the withdrawals actually took place between 2013 and 2014.
The defence also challenged Peter’s claim that Jude ran 47 bank accounts. While Peter insisted the EFCC held the evidence, Bashir denied this, stressing he had no record of such accounts. Onwuenwunor then asked the court to compel Peter and the EFCC to produce the documents, but the judge rejected the request, ruling that a formal application was required.
Peter further stood by his claim that Jude owned 80% of Northside Entertainment, but the defence tendered Corporate Affairs Commission (CAC) documents contradicting his assertion.
He was also questioned about his alleged lack of awareness of another company, Northside Music, and the signing of artiste Cynthia Morgan. Peter said he only learned of the company in 2024 after Morgan sent him a contract on Northside Entertainment letterhead, adding that her albums were credited to yet another entity, Northside Inc.
Justice Oshodi adjourned the case to December 12, 2025, for continuation of trial.
