- EFCC tells court it has no evidence supporting Peter Okoye’s $800,000 fraud allegation.
- Peter accused Jude of diverting P-Square funds and operating multiple undeclared accounts.
- Court hears conflicting statements and revised timelines during cross-examination.
- Trial continues as EFCC and defence challenge Peter’s claims with documents.
The fraud trial involving the Okoye brothers took a new turn on Friday after the Economic and Financial Crimes Commission admitted in court that it does not have evidence to support the claim that Jude and Paul Okoye withdrew $800,000 from funds belonging to the P-Square music business.
Peter Okoye had petitioned the EFCC in 2024, accusing Jude of running undeclared accounts, diverting royalties and altering company ownership structures in Northside Entertainment Ltd., a firm jointly owned by the brothers. The petition led to charges being filed against Jude over the management of P-Square’s revenues.
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During cross-examination at the Lagos Special Offences Court, EFCC counsel Mohammed Bashir told Justice Rahman Oshodi that the commission had no documents proving the alleged $800,000 withdrawal.
“We do not have it. It is his evidence. Let him prove it. I can’t give what I don’t have,” Bashir said.
Jude Okoye and Northside Music Limited were arraigned on March 4, 2025, on allegations that they diverted over $1 million and £34,000 in royalties from digital distribution and publishing. The EFCC alleged that $767,544.15 paid by Lex Records Limited was wrongly converted. Jude was granted ₦50 million bail on March 6.
Peter later told the court that fresh evidence showed Jude and Paul shared more than $800,000 between March 2023 and October 2024, but when questioned further by defence lawyer Clement Onwuenwunor (SAN), he revised the timeline to 2013–2014.
Peter also insisted that Jude operated 47 bank accounts and held an 80% stake in Northside Entertainment. The EFCC again denied having any records matching that claim. In response, the defence presented Corporate Affairs Commission documents showing a different ownership structure.
Peter admitted he only became aware of Northside Music in 2024 when singer Cynthia Morgan shared her contract with him, even though her works had been released under the name Northside Inc.
Justice Oshodi adjourned proceedings to December 12, 2025, for continuation of trial.
